Combined capital city home values have increased by 7.9% over the year
– Combined capital cities home values have recorded value growth of 7.9% over the 12 months to April 2015.
– The annual rate of home value growth has slowed from a recent peak of 11.5% in April 2014.
– Over the past year, house values have increased by 8.3% compared to a 5.6% increase in unit values.
– The stronger performance of detached housing markets compared with multi-unit dwellings has been a feature of Australia’s housing market over each of the past four cycles.
– Despite the stronger growth conditions within the detached housing market, we are seeing a growing level of development appetite for medium to high density housing. This is likely due to significantly higher prices in most cities for detached houses compared to units, an increasing desire for residents to live closer to the city centre and changing town planning regulations.