November Sydney Property Report

With the year coming to an end in a couple of months this months property report focuses on the information you need to begin planning, if you haven’t done so already, for the new year and after.

Dwelling values increased by 1.0% to $545,000 across the combined capital cities in October. Sydney (1.3%) along with Melbourne (1.9%) and Brisbane (0.6%) were the only capital cities to have recorded gains for the month.

Over the 12 months to August 2014 there were 349,612 houses and 135,914 units sold across the country. This is a 7.7% increase in dwelling sales from the previous period a year ago. Further broken down there was an 8.8% change in houses and 5.0% change for units. Western Australia (-3.4%) and the ACT (-8.3%) were the only states which didn’t experience a year-on-year increase in sales. Tasmania and Queensland had the largest difference in sales with 18.8% and 14.9% respectively.

September was the first ever month where the value of monthly investment loans ($11.9 billion) has been greater than that of owner occupier new loans ($11.8 billion). As can be seen from the below graph, while owner occupier new loans have slowed, investment has continued to surge.

Across the country, the annual rental rate for dwellings increased by 1.3 per cent for the September quarter. While in the capital cities, houses experienced no change but rental rates for units increased by 2.4%. Darwin has the most expensive weekly rent for both houses and units with $660 and $550 while Hobart has the cheapest with $330 and $275. In comparison, Sydney’s weekly house rent is up 3.8% for the year to date to $550. Weekly rents for units have grown by 2.0% in the same period and currently sit at $500.

The only losers for the quarter were houses with five or more bedroom, rents down by -2.4% and three bedroom units which saw rents fall slightly, down -0.4%. Meanwhile, houses with four bedrooms recorded no change over the quarter, while three bedroom house rents increased by 1.1 per cent over the three months to September. Much like the detached housing market, rental performance across each segment of the unit market was varied. One bedroom units recorded no rise in rents, while two bedroom units saw rents increase by 1.0 per cent.

Sydney only

If you would like to discuss your finance options please do not hesitate to contact us on 08 9242 3300 or email info@nullrdfinance.com.au.

Source: RP Data