HS Caulfield Elsternwick: Qtrly Newsletter. Issue 3, 2016

Quarterly Newsletter

ISSUE 3 • 2016

Australian house prices increase by almost half

Australian house prices have increased by almost half in the past six and a half years, spurred on by rapid rates of growth in Sydney and Melbourne. And the increase is even greater when you examine the differences in median house and apartment values over a 10-year period (see Graphs below) in the local suburbs of Caulfield South, Elsternwick, Caulfield, Caulfield North, Brighton, Glen Huntly and Caulfield East. With affordability widely acknowledged as an important ingredient for continued stability and growth in the property sector it is clear to see that the strategy of the Reserve Bank and Economic planners will be closely watched by purchasers and all stakeholders alike.

of a market slowdown – particularly in Melbourne and Sydney.

Over the six and a half years since the end of 2008, value growth in Sydney and Melbourne has stood head and shoulders above all other cities. “Capital city home values have trended much higher for a long time. Since we commenced our Index towards the end of 1995, combined capital city house values increased by 436.6% and unit values are up 330.4%. While we’ve seen periods where values have fallen however, values largely continued to rise over that time despite variances across specific cities.” “Sydney and Melbourne are the strongest housing markets for capital growth and we expect this to continue over the coming financial year,” Cameron Kusher RP Data . n

Marshall Rushford hockingstuart Caulfield | Elsternwick Director | Auctioneer CONTACT: 0418 396 981 mrushford@hockingstuart.com.au

Among home owners and first home buyers, experts say there are no signs

INSIDE:

Presentation Sells The Selling Process

MEDIAN HOUSE SALE PRICES

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n Brexit and what does it mean for Australia n Appraisal Competition Featured Property Spring is Nearly Here Elsternwick Profile n n n

2005/06 2015/16

2M

1.5M

1M

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1 Minute With … Median Sale Prices

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Caulfield South

Elsternwick

Caulfield North

Caulfield East

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If you would like to know the specific increase in median price for your suburb please contact the office.

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