Housing prices in Melbourne remain steady growth

Are you planning to buy Australian property to invest or send your children to study abroad this year? Want to know the real estate market situation in Australian states in 2018 to make the right investment?

In this article, we want to give you specific statistics on home price growth in the third quarter of 2018. These numbers will give you some insight into the real estate market in Australia before investing.

Sydney

The Sydney property market has softened in the third quarter. Home prices fell 2.6% (to AUD1,150,357) and apartment prices fell 0.5% (to AUD740,041).

Average weekly rents and apartments have risen to their previous levels. Average weekly rent for a house is stable at $ 550 per week, while average weekly rent for apartments is $ 5 ($ 550 per week).

Melbourne

The median home price in Melbourne reached $ 914,518 in March, up 0.1% quarter-on-quarter, marking 22 consecutive quarters of growth. With an increase of 0.7%, Melbourne is the only metropolis with a quarterly rise in prices for apartments with an average price of AUD $ 505,861.

Melbourne’s rental conditions continue to strengthen in the first quarter of 2018, with average weekly rents and rents reaching a record high. The average rent for a home is $ 430 per week – up 1.2% compared to Q4. The average rent for an apartment is AUD 410 per week – up 2.5% from the previous quarter.

Brisbane

Home prices fell slightly by 0.6% (median home price was AUD $ 557,518) and the flat fell by 4.3% (median price of AUD 380,196 ).

Average rent in Brisbane increased to $ 375 a week (up 1.4% from Q4 FY2017), while rents remained at $ 400 per week (no growth compared to the previous quarter). ).

Adelaide

Adelaide’s average house price rose 0.8% in the third quarter to a record $ 533,525. Adelaide’s average apartment price did not see quarter-on-quarter growth, reaching $ 316,851, but this represents an average increase of 4% over the same period in 2017.

Average rents and condos in Adelaide have shown slight growth over the previous quarter and the same period in 2017. Rental rates are AUD $ 375 / week, apartment rent is AUD $ 300 / week. Overall, Adelaide remains one of the most affordable cities in Australia.

Perth

Perth’s median home price fell 2 percent this quarter to $ 553,525, but annual declines were down (1.9 percent). Similarly, the average price of apartments in Perth fell 3.7% from the previous quarter (to 351,048 AUD), the annual rate of decline increased to 4.4%.

In Q3, average weekly rents rose 1.4 percent to $ 355 a week, while average weekly rents remained stable at $ 300 per week.

Canberra

Canberra continues to see average home price growth this quarter of 0.8% ($ 727,914), but average housing prices fell 2.2% to $ 411,004.

Canberra’s average weekly rent fell 1.9% to $ 530 a week in Q3. Weekly apartment rentals rose to an average of $ 450 a week, reflecting a 4.7% quarterly increase. .

Darwin

Darwin’s average home price has fallen 7.5% from Q3 (to close at $ 520,074). Apartments in Darwin also fell by 15.9% compared to the previous quarter (only 308,999 AUD).

Darwin’s average weekly rent fell 3.6% to $ 530 a week in Q3. Weekly flat rents also dropped to an average of $ 410 a week, reflecting a 1.2% drop in cargo prices. precious.

As of 3Q2018, Melbourne maintained its steady growth in the Australian real estate market. Melbourne is still able to maintain its dominance as the number of migrants to Melbourne increases each week, leading to increased housing demand.

In addition, the Melbourne infrastructure is being promoted by the Victorian government, Melbourne’s employment opportunities are more competitive than in other states, so the attraction of real estate investments in Melbourne is unlikely. reduce heat.

Be a wise investor when choosing the right place and time to invest in real estate in Australia. Please contact Hotline 0911.899.595 (Ha Noi) – 0911.899.597 (HCMC).

Housing prices in Melbourne remain steady growth
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