Friday, January 4, 2013

Who did well in 2012? House Prices Around Australia

Happy New Year, readers!

2012 was a very mixed year for the Australian housing market, with the average growth across the eight capital cities scraping just above 0% at 0.4% and when you look at individual capital city markets, it is very hard to draw a generalisation across the country. On one hand, Darwin experienced almost 9% growth in a year where the world's economies were on the brink of collapse. Melbourne felt a 2.9% slide in their housing market over the last 12 months meanwhile only less than 1000km away, Sydney rose by 1.5%.

Perth experienced a reasonable growth of 0.8% in 2012 with house prices sitting at $479,000. Here are the numbers for each capital city.
  • Darwin rose 8.9% to $505,000
  • Sydney rose 1.5% to $580,246
  • Perth rose 0.8% to $479,000
  • Hobart fell 0.1% to $317,500
  • Canberra fell 0.3% to $517,500
  • Brisbane fell 0.8% to $417,500
  • Adelaide fell 0.8% to $380,000
  • Melbourne fell 2.9% to $500,000

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