How much have property prices risen over the past 30 years?

Property values in Melbourne, Sydney and Hobart have recorded about a five-fold increase over the past 30 years.

It was followed by Sydney and Hobart ; prices in both these cities almost doubled over the past 10 years. This eclipsed Melbourne in the past decade, when prices in the Victorian capital rose only 69 per cent. Meanwhile, Sydney’s price growth had been fuelled by population growth, higher levels of investor activity and an undersupply of housing. Hobart’s property prices had been playing catch up after years of being undervalued, as population growth ramped up over the past decade.

Melbourne’s Yarra statistical region, covering suburbs such as Fitzroy, Carlton North and Richmond, recorded the strongest growth as values rose 779 per cent. It was followed by Melbourne City , the Gungahlin region in the ACT , and Melbourne’s Boroondara and Maribyrnong regions. Going forward, he expected price declines to level out as interest rates hit their ceiling, and then grow as rates reduced. He noted the longest downturn across the combined capitals since the early 1980s, lasted 21 months.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Liberty says falling house prices will push borrowers to non-banksLiberty’s CEO says borrowers with higher loan-to-value ratios may be pushed to non-banks as banks tighten loan standards.
Source: FinancialReview - 🏆 2. / 90 Read more »

How much have property prices risen over the past 30 years?Prices might have slipped in the past few months, but new research tracks the phenomenal growth over decades and highlights the neighbourhoods where values have risen most. So many houses in my upper-middle class Melb. 'burb are EMPTY. More than these empty dwellings are the 4 BR homes w/ only one or two occupants. Legalise squatting so selfish a-holes don't leave these homes empty. 116,000 Aussies are homeless, FFS.
Source: theage - 🏆 8. / 77 Read more »

The Sydney suburbs where Millennials have replaced Baby Boomers and Gen XTen years of census data show how Generation Y has taken over Sydney – but not in areas with little housing and high prices. michaelkoziol CraigDButt Us boomers are not getting any younger, but at least we experienced the freedom, music & opportunities of the 70’s 80’s & 90’s
Source: smh - 🏆 6. / 80 Read more »