Emigrate to Australia – housing costs
20 August 2016 by News DeskEmigrate to Australia - Four capital cities recorded a fall in property values over the month with capital city rents down over the month, some 0.6 percent lower over the past twelve months.
Emigrate to Australia – Sydney and Melbourne have seen growth fall back below 10 per cent. Prices increased by 9.1 per cent and 7.5 per cent respectively over the past twelve months, according to CoreLogic.
The figures show the strength of Sydney and Melbourne growth with property values across the two biggest capitals recording increases to date of 61.3 per cent and 42.0 per cent respectively.
Perth property prices fell by 4.3 per cent over the past three months and are 5.6 per cent lower over the past year.
Capital city rents were down over the month, 0.6 per cent lower over the past twelve months.
The fall in weekly rents has pushed capital city rental yields to a new historic low of 3.3 per cent.
Melbourne now has the lowest gross yield for houses at 2.8 per cent, while Sydney now has the lowest yield for apartments, averaging 3.9 per cent.
Emigrate to Australia – housing costs
In Brisbane property at the top end of the market has reached a peak in terms of values.
Sales of the most expensive houses at the high end of the Brisbane property market have reached record levels.
Over the six months to March, 27 Brisbane homes priced from $3 million-plus were sold, a total spend of $120.3 million, according to analysis by Place Advisory.
The median price of those sales was just shy of $4 million, with the period having a 7.2 per cent jump over the previous year.
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