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Growth in Real Estate Market

The surprise package that has everyone excited is the upsurge of Darwin. After experiencing a loss in growth, Darwin went from -2.5% to being expected to grow by as much as 2%. After a really good decade of growth, Darwin has dropped off the top of the list in the past 2 years, and against what some experts had predicted, has re-established itself as one of Australia’s best places to invest in housing.

Last month, we witnessed an ‘auction frenzy’, as one weekend saw an unbelievable 79% of auctioned properties sold nationally. That is the second highest level in data going back almost seven years. Buyers are seeing no end to these price rises, with the median price for a Sydney house now in excess of $900,000, with Melbourne approaching a median house price of $700,000.

capped off a year that saw capital city homeowners add an average of 7.9% in value to their properties, and experts are again forecasting more growth.

Prices in our capital cities have more or less doubled in the last 10-12 years, and in particular parts of those metropolitan areas it has gone through the roof. What we all need to figure out for ourselves is not ‘when should I buy or sell’, but rather ‘where’.