rp data - brisbane & adelaide housing (15 august 2013)

7/27/2019 RP Data - Brisbane & Adelaide Housing (15 August 2013)

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-80.0%

-60.0%

-40.0%

-20.0%

0.0%

20.0%

Jul-93 Jul-97 Jul-01 Jul-05 Jul-09 Jul-13

Syd : Mel Syd : Bne Syd : Adl Syd : Per Syd : Hob Syd : Dar Syd : Can

-60.0%

-40.0%

-20.0%

0.0%

20.0%

40.0%

60.0%


Mel : Syd Mel : Bne Mel : Adl Mel : Per

days Property Pulse looks at median house prices across Australiaspital cities and uses the differences as a measure of affordability. Mr

sher said that while median prices are not a preferred measure forpital growth or losses, the method is a good way to assess other aspectsthe housing market such as affordability and what price points homes

e currently selling for.

ound the cities, Sydney is currently, and has maintained its position ase city to hold the highest median selling prices for homes. Based on July13 data, in Sydney the combined house and unit median price was70,000 which is 16 per cent higher than the median selling price inelbourne ($492,000), 33 per cent higher than Brisbane ($429,000), 49r cent higher than Adelaide ($382,000), 15 per cent higher than Perth494,600), 87 per cent higher than Hobart ($305,000), 16 per cent higheran Darwin ($490,000) and 14 per cent higher than Canberra ($500,000).

Kushers analysis for Sydney shows that in relation to other capitales such as Melbourne, the price differential has recently started torrow. He said that while there was little change over the past yearmpared to Perth, the gap in pricing between Brisbane and Adelaide hascome more significant.

tween Sydney and Brisbane the price gap is currently at its greatestvel since June 2006, while for Adelaide it is at its widest since the middle2007.

days accompanying charts show that over time, the differential incing between Sydney and the other major capital cities has compressed.

Kusher said he believes that the gap is unlikely to revert to theseevious highs.

arting with Melbourne, Sydneys median price is 15.9 per cent higheran across the city of Melbourne and Perths median price is 0.5 per centgher. The gap in pricing between Melbourne and Sydney is at itsrrowest level since February 2012 and for Perth, the gap is at its lowest

vel since January 2012. Brisbanes median price is 12.8 per cent loweran that of Melbourne which is the widest gap since August 2003.elaides median price is -22.4 per cent lower, the largest gap sincecember 2010.

mpared with Brisbane, home prices are higher in Sydney (32.9%),elbourne (14.9%) and Perth (15.3%). The gap in pricing relative to Perth15.3 per cent and has been relatively stable over the past year.elaides median price is -11.0 per cent lower than those in Brisbane and

e gap has been quite stable since early 2012.

e last time Adelaide home prices were higher than in any other majorpital city was in November 2004 when the median house price was -4% lower. Mr Kusher noted that there is a significant price gap betweenelaide and Sydney, Melbourne and Brisbane prices. Perths mediance is 29.5 per cent higher than that in Adelaide and the gap hascreased over recent months.

sed on these results, there is a significant gap in pricing betweendney and other capital cities. Melbourne and Perth prices are relatively

milar with a large step down in median price to Brisbane and then ather large gap to Adelaide prices.

ith home values rising at a faster pace in Sydney, Melbourne and Perth

an in Brisbane and Adelaide, we expect that gaps in selling prices willcrease over the coming months which may then see a shift in focus to theore affordable markets of Brisbane and Adelaide, Mr Kusher said.

ote: The median house prices across the capital cities are calculated

sed over a rolling three month period of sales.

DISCLAIMER In compiling this publication, rpdata.com has relied upon information supplied by a number of external sources and RP Data does not warrant its accuracy or completeness. To the f ull extent allowed by law RP Dataexcludes all liability for any loss or damage suffered by any person or body corporate arising from or in connection with the supply or use of any part of the information in this publication. RP Data recommends that individuals undertaketheir own research and seek independent financial advice before making any decisions. 2012 RP Data Ltd.

ompetition may drive buyers to more affordable markets such as Brisbane & Adelaideith property values climbing in Sydneyand Perth, coupled with competition for stock intensifying in these cities and Melbourne, RP Datas

ameron Kusher said that buyers may start to look at more affordable alternatives and focus their attention on markets such as Brisbane

d Adelaide. It will be interesting to see if this starts to happen over the coming months, Mr Kusher said.

Sydney home prices relative to other capital cities

over time

Melbourne home prices relative to other major

capital cities over time

-40.0%

-20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%


Bne : Syd Bne : Mel Bne : Adl Bne : Per

Brisbane home prices relative to other major


-20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%


Adl : Syd Adl : Mel Adl : Bne Adl : Per

Adelaide home prices relative to other major


-60.0%

-40.0%-20.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%


Per : Syd Per : Mel Per : Bne Per : Adl

Perth home prices relative to other major capital

cities over time

Source: RP Data, RP Data-Rismark Home Value Index





National Media ReleaseP Data Weekly Property Pu lseeleased: Thursday 15 August 2013

rp data - brisbane & adelaide housing (15 august 2013)

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