Guest The Pom Queen Posted August 31, 2015 Share Posted August 31, 2015 With home values rising across most capital cities, the proportion of home sales below $400,000 continues to trend lower making it harder for price-sensitive buyers to purchase into capital city markets. Over the 12 months to July 2015, combined capital city home values have increased by 11.1%. Most capital cities also have median prices which are now above $400,000 resulting in fewer more affordable properties available for sale. 37.4% of all home sales nationally were at less than $400,000 compared to 52.0% between $400,000 and $1 million and 10.6% over $1 million over the 12 months to June 2015. Sales below $400,000 were at a record low over the past year and sales above $1 million were at a record high. Focusing just on capital cities, 25.1% of home sales were under $400,000, 60.1% were between $400,000 and $1 million and 14.8% were in excess of $1 million. [h=3]% of annual capital city home sales by price point over time[/h] Twenty years ago, 95.2% of all capital city houses and 96.7% of units sold for less than $400,000. Meanwhile, only 0.4% of all houses and 0,3% of all units sold transacted for more than $1 million. [h=3]% of sales by price point – year to June 1995[/h] Ten years ago, the proportion of sales under $400,000 had fallen sharply relative to 10 years earlier. At this time, 66.2% of houses and 73.8% of units had sold over the year for less than $400,000. In comparison, 4.0% of houses and 2.3% of units across the capital cities sold for more than $1 million. [h=3]% of sales by price point – year to June 2005[/h] Five years ago, around a third of all capital city house sales (34.1%) and 46.4% of units sold for less than $400,000. At the same time, 10.1% of capital city houses and 3.8% of units sold for more than $1 million. [h=3]% of sales by price point – year to June 2010[/h] Over the past year, Canberra (7.4%) and Sydney (7.8%) have recorded the lowest proportion of house sales under $400,000 over the year. Hobart (61.2%) was the only city to have more than half of all house sales over $1 million. The unit market offers more opportunity to purchase below $400,000 however, each of Sydney (16.3%), Melbourne (35.9%), Perth (38.5%), Darwin (29.7%) and Canberra (43.3%) recorded a majority of unit sales above this price point. [h=3]% of sales by price point – year to June 2015[/h] There was a record high proportion of houses and units sold for more than $1 million over the past 12 months. In Sydney, more than a third of all houses (36.8%) sold for more than $1 million. Melbourne had the second highest proportion of sales over $1 million (17.7%). Although Melbourne had a record high proportion of houses sold over $1 million it was less than half the proportion of sales in excess of $1 million recorded in Sydney. For units, Sydney had the highest proportion of sales over $1 million (11.6%) and was the only capital city in which more than 10% of unit sales were in excess of $1 million. In fact, Sydney had a higher proportion of unit sales over $1 million than each of Brisbane, Adelaide, Hobart, Darwin and Canberra had for houses. Although we anticipate that the rate of capital growth will slow over the coming year we still expect values to generally rise. As a result we would expect a further decline in the proportion of homes selling below $400,000. Link to comment Share on other sites More sharing options...
starlight7 Posted August 31, 2015 Share Posted August 31, 2015 Not sure what you'd get round here for under 400,000 ( maybe a 1 bedroom flat or studio) When we were up in Swan Hill end of last year we saw a house up for sale at 65,000 on over an acre with main road frontage. Bit if a wreck admittedly but not so bad you couldn't live in it. Link to comment Share on other sites More sharing options...
starlight7 Posted August 31, 2015 Share Posted August 31, 2015 http://www.realestate.com.au/property-house-vic-swan+hill-120069401 Had to look!! Link to comment Share on other sites More sharing options...
Guest Posted August 31, 2015 Share Posted August 31, 2015 http://www.realestate.com.au/property-house-vic-swan+hill-120069401 Had to look!! Seriously i know Swan Hill you wouldn't want to live in that part of it even if the house was free!!! Link to comment Share on other sites More sharing options...
calNgary Posted August 31, 2015 Share Posted August 31, 2015 The advantages of not wanting or having to live next to city is great, a 40 minute drive when we do, it is worth it IMO , new builds as low as $260,000 around here, albeit on tiny plots but that's all you would get near the city anyway. Acreage homes under $400k if you want space - http://www.realestate.com.au/buy/between-0-400000-in-jimboomba%2c+qld+4280/list-1?source=location-search http://www.realestate.com.au/buy/between-0-400000-in-yarabilba+logan+village/list-1?source=location-search Link to comment Share on other sites More sharing options...
Peachy Posted August 31, 2015 Share Posted August 31, 2015 The advantages of not wanting or having to leave next to city is great, a 40 minute drive when we do, is it worth it IMO , new builds as low as $260,000 around here, albeit on tiny plots but that's all you would get near the city anyway. Acreage homes under $400k if you want space - http://www.realestate.com.au/buy/between-0-400000-in-jimboomba%2c+qld+4280/list-1?source=location-search http://www.realestate.com.au/buy/between-0-400000-in-yarabilba+logan+village/list-1?source=location-search I want the one that comes with the horse!! You get a lot for your money in Jimbooba. Just a shame that it is just that bit too far out for us. Link to comment Share on other sites More sharing options...
Guest Posted August 31, 2015 Share Posted August 31, 2015 Has a pretty good golf course Link to comment Share on other sites More sharing options...
calNgary Posted August 31, 2015 Share Posted August 31, 2015 Has a pretty good golf course PGA champion making so i believe... The attached restaurant is pretty good too. Cal x Link to comment Share on other sites More sharing options...
starlight7 Posted August 31, 2015 Share Posted August 31, 2015 Boolara area is a nice cheap area too and nice little primary school, just love their swimming pool, cute above ground one like we had when the kids were young. Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 1, 2015 Share Posted September 1, 2015 Just had a look what there is in Cairns in nice suburbs http://www.realestate.com.au/property-house-qld-gordonvale-118623787 http://www.realestate.com.au/property-house-qld-trinity+park-120363677 http://www.realestate.com.au/property-house-qld-redlynch-120300517 http://www.realestate.com.au/property-house-qld-trinity+park-119048559 i love this in Kuranda if you didn't have to go down the range each day. http://www.realestate.com.au/property-house-qld-kuranda-119649411 There are other areas that are cheaper, ie Bentley Park, Mt Sheridan, Edmonton http://www.realestate.com.au/property-house-qld-bentley+park-120296185 http://www.realestate.com.au/property-house-qld-bentley+park-120474521 http://www.realestate.com.au/property-house-qld-bentley+park-120528929 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.