Other Capital Cities in Australia

Perth

Statistics

Perth has just over 1.7 million people live in Perth
Its population is projected to grow by about 38,000 new residents each year over the next decade
The city holds just over 726,000 private dwellings, of which three out of four (78.6%) are detached, with a further 9% being apartments and one in eight being semi-detached in nature

  • The median house price is just under $560,000
  • Attached dwellings average about $460,000
  • House prices are rising at present at about 0.7% per annum
  • Apartment values are rising only minimally higher at around 0.8% per annum
  • New property prices are rising faster, up 1.9% on this time last year

Note : Perth’s dwellings prices are expected to increase by around 7% per annum over the next three years

Rent

  • There are just over 1,000 properties for rent across the city
  • Which equates to a vacancy rate of 0.6%
  • Average gross rental yields range from 4.5% to 4.8% respectively for detached houses and attached product
  • Just over 90% of Perth’s renters pay less than 30% of their income on rent
  • Just under 30% of the city rents their accommodation
  • Whilst another 30% own their homes outright and 40% have a mortgage
  • There are 2.6 people on average per dwelling
  • Just under a quarter of the city’s residents live alone
  • Another 28% live as couples without children at home
  • Just over 40% of Perth’s homes have children living in them
  • Four-fifths of the city’s dwellings have three or more bedrooms

Selling

The time it takes to sell a property in Perth has remained fairly steady over the previous quarter, currently averaging 128 days
Most established homes are being discounted to help make a sale, but the average private treaty discount rate is about 6%
At present there are just over 14,000 houses and 3,000 attached dwellings for sale across Perth, which is just on 15% less than late 2011- an encouraging sign for things to come
Perth’s dwellings prices are expected to increase by around 7% per annum over the next three years
Close to 22,000 established houses sold and settled in Perth over the past twelve months

Adelaide

Statistics

There are just over 1.2 million people live in Adelaide
Its population is projected to grow by about 12,000 new residents each year over the next decade
The city holds half a million private dwellings, of which three out of four (77%) are detached, with a further 10% being apartments and one in eight being semi-detached in nature

  • The median house price is just under $430,000
  • Attached dwellings average about $340,000
  • House prices are falling at present, at about 2% per annum
  • Apartment values are holding up better than house prices, but still falling to the tune of 1% per annum
  • New property prices remain steady, up 0.1% on this time last year

Note : Adelaide’s dwellings prices are expected to increase by between 2% and 3% per annum over the next three years

Rent

  • There are close to 2,500 properties for rent across the city
  • Which equates to a vacancy rate of 1.5%
  • Average gross rental yields range from 4.2% to 4.7% respectively for detached houses and attached product
  • Just over 90% of Adelaide’s renters pay less than 30% of their income on rent
  • Just under 30% of the city rents their accommodation, whilst one-third own their homes outright and 36% have a mortgage
  • There are 2.4 people on average per dwelling
  • Close to a third of the city’s residents live alone
  • Just under one-third live as couples without children at home
  • Just over 40% of Adelaide’s homes have children living in them
  • Three-quarters of the city’s dwellings have three or more bedrooms

Selling

The time it takes to sell a property in Adelaide has fallen, currently averaging 134 days
Most established homes are being discounted to help make a sale, but the average private treaty discount rate is about 7%
At present there are just over 14,000 houses and 2,500 attached dwellings for sale across Adelaide, which is almost 3% more than late 2011
Adelaide’s dwellings prices are expected to increase by between 2% and 3% per annum over the next three years
Just over 14,000 established houses sold and settled in Adelaide over the past twelve months

Darwin

Statistics

Just under 130,000 people live in Darwin
Its population is projected to grow by about 2,400 new residents each year over the next decade
The city holds 48,500 private dwellings, of which just over three out of five (64%) are detached, with a further 20% being apartments and one in eight being semi-detached in nature

  • The median house price sits at $513,000
  • Attached dwellings average about $400,000
  • House prices are rising at present, with latest figures topping the capitals, at just under 4% per annum
  • Apartment values are dropping slightly, with falls of around 0.5% per annum
  • New property prices are rising, up 3.1% on this time last year.

Note  Darwin’s dwellings prices are expected to increase by between 4% and 5% per annum over the next three years

Rent

  • There are just 130 properties for rent across the city
  • Which equates to a vacancy rate of 0.5%
  • Average gross rental yields are around 6% for both detached houses and attached product
  • Just on 90% of Darwin’s renters pay less than 30% of their income on rent
  • Two-fifths of the city rents their accommodation
  • Whilst another 18% own their homes outright and 37% have a mortgage
  • There are 2.7 people on average per dwelling
  • One-fifth of the city’s residents live alone
  • Another 27% live as couples without children at home
  • About 45% of Darwin’s homes have children living in them
  • Two-thirds of the city’s dwellings have three or more bedrooms

Selling

At present there are just over 700 houses and nearly 500 attached dwellings for sale across Darwin, which is 26% less than late 2011 – the most impressive drop for all the capitals.
Darwin’s dwellings prices are expected to increase by between 4% and 5% per annum over the next three years
Close to 1,300 established houses sold and settled in Darwin over the past twelve months

Canberra

Statistics

Just over 360,ooo people live in Canberra

The city holds 69,000 private dwellings, of which three out of four (76%) are detached, with a further 11% being apartments and one in eight being semi-detached in nature

  • The median house price is just over $600,000
  • Attached dwellings average about $420,000
  • House prices are falling at present, at about 1.7% per annum
  • Apartment values are holding up better than house prices, rising slowly to the tune of 0.9% per annum.  New property prices are falling slightly, down 0.6% on this time last year.

Note : Canberra’s dwelling prices are expected to increase only marginally by up to 1% per annum over the next three years

Rent

  • There are just over 500 properties for rent across the city
  • Which equates to a vacancy rate of 1.1%
  • Average gross rental yields range from 4.5% to 5.5% respectively for detached houses and attached product
  • Just over 93% of Canberra’s renters pay less than 30% of their income on rent
  • Just under 30% of the city rents their accommodation
  • Whilst just under one-third own their homes outright and 39% have a mortgage
  • There are 2.6 people on average per dwelling
  • Just over a fifth of the city’s residents live alone
  • Just over 25% live as couples without children at home
  • Just under half of Canberra’s homes have children living in them
  • Four-fifths of the city’s dwellings have three or more bedrooms

Selling

The time it takes to sell a property in Canberra has remained relatively steady, currently averaging 79 days
Most established homes are being discounted to help make a sale, but the average private treaty discount rate is about 5%
At present there are just over 2,300 houses and 1,200 attached dwellings for sale across Canberra, which is up 0. 3% on late 2011
Canberra’s dwelling prices are expected to increase only marginally by up to 1% per annum over the next three years
Just over 4,000 established houses sold and settled in Canberra over the past twelve months.

Hobart

Statistics

Just over 200,000 people live in Hobart

Its population is projected to grow by about 2,000 new residents each year over the next decade

The city holds 94,000 private dwellings, of which four out of five (82%) are detached, with a further 10% being apartments and one in sixteen being semi-detached in nature

  • The median house price is just under $326,000
  • Attached dwellings average about $318,000
  • House prices are falling at present, at about 1.2% per annum
  • Apartment values, on the other hand, are showing a lot more grunt, rising to the tune of 14.3%** per annum
  • New property prices are falling, down 4.3% on this time last year.

Note : Hobart’s dwellings prices are expected to increase negligibly by up to 0.5% per annum over the next three years

Rent

  • There are just close to 632 properties for rent across the city
  • Which equates to a vacancy rate of 2.3%
  • Average gross rental yields range from 5.2% to 4.5% respectively for detached houses and attached product
  • Just on 92% of Hobart’s renters pay less than 30% of their income on rent
  • Just under 30% of the city rents their accommodation
  • Whilst one-third own their homes outright and 35% have a mortgage
  • There are 2.4 people on average per dwelling
  • Almost one quarter of the city’s residents live alone.
  • Just over 25% live as couples without children at home
  • Around 40% of Hobart’s homes have children living in them
  • Just under three-quarters of the city’s dwellings have three or more bedrooms

Selling

At present there are just over 3,600 houses and 676 attached dwellings for sale across Hobart which is 22% more than late 2011
Hobart’s dwellings prices are expected to increase negligibly by up to 0.5% per annum over the next three years
Just under 3,000 established houses sold and settled in Hobart over the past twelve months
**  we question the validity of this figure.  Most likely it reflects what has been selling i.e. new apartments, against a recently settled older property sales set.  The Hobart apartment market is quite small and is influenced more than many other capitals by its current sales sample.

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