domain regional house price report - amazon s3 · domain regional house price report - september...

Domain Regional House Price ReportSeptember Quarter 2016

Dr Andrew WilsonChief Economist for Domain

For further information please contact:[email protected] | 1800 817 616

Domain Regional House Price Report - September Quarter 2016This Report has been compiled by Domain Group. A Fairfax Media business.

Domain Regional House Price ReportVictoriaBallaratThe median house price for Ballarat increased by 1.5 per cent over the quarter, to $310,000, an annual growth of 6.0 per cent.

“There has been steady price growth in Ballarat over the quarter and it’s clear that buyer and seller momentum is on the rise after a subdued period of housing market activity,” said Domain Chief Economist, Dr Andrew Wilson.

Greater BendigoBendigo house prices have fallen by 3.0 per cent over the quarter to $328,000. This follows a year of solid market activity in Bendigo, with prices increasing by 2.5 per cent overall.

“House prices in Bendigo decreased sharply over the quarter, as local market activity levels out after a period of solid growth. Recent weakness in Bendigo’s local economy could be driving a softer housing market,” said Domain Chief Economist, Dr Andrew Wilson.

Greater GeelongHouse prices in Geelong decreased slightly to $415,000 during the September quarter. Over the year, the region has had strong price growth at 2.0 per cent.

“House prices in Geelong fell marginally over the quarter with the local market consolidating recent solid results. A strengthening local economy and significant affordability advantages compared to Melbourne however, will likely see solid house price growth resume sooner rather than later in Geelong,” said Domain Chief Economist, Dr Andrew Wilson.

WodongaThe median house price in Wodonga has increased to $316,000, a quarterly rise of 1.9 per cent and a significant annual growth of 10.9 per cent.

“The Wodonga housing market continues to produce healthy results, with a strong local economy stimulating market activity and price growth. This is in clear contrast to the adjacent Albury market where price growth continues to weaken,” said Domain Chief Economist, Dr Andrew Wilson.

$310,000

6% BallaratMedian property priceSeptember 2016 YoY Growth

$328,000

2.5% Greater BendigoMedian property priceSeptember 2016 YoY Growth

$316,000

10.9% WodongaMedian property priceSeptember 2016 YoY Growth

$415,000

2% Greater GeelongMedian property priceSeptember 2016 YoY Growth


New South WalesAlburyHouse prices in Albury continued to fall this quarter, down by 4.8 per cent to $297,000, an annual decrease of 1.0 per cent.

“The market in Albury remains subdued. The median house price has now fallen below $300,000, making it the most affordable of all NSW major regional cities,” said Domain Chief Economist, Dr Andrew Wilson.

BallinaThe median house price in Ballina increased by 4.4 per cent, reaching $550,000 over the September quarter. There has been strong annual growth for the region, experiencing an increase of 12.2 per cent.

“Ballina is surging having the fastest growth rate of all the coastal centres, with strong demand for housing in northern New South Wales making it likely house prices will continue to climb in the region,” said Domain Chief Economist, Dr Andrew Wilson.

Coffs Harbour Over the quarter, the median house price in Coffs Harbour increased by 1.6 per cent to $440,000. The region has had a strong annual performance of 5.8 per cent growth.

“Coffs Harbour remains a relatively affordable mid-NSW coastal market but house prices in the region are rising steadily. The solid performance of the housing market this quarter indicates it will continue to grow,” said Domain Chief Economist, Dr Andrew Wilson.

DubboMedian house prices in Dubbo increased by a robust 3.5 per cent this quarter, reaching $355,000, an annual increase of 2.9 per cent.

“The resilient mid-west rural market of Dubbo continues to produce solid prices growth reflecting an ongoing robust local economic performance,” said Domain Chief Economist, Dr Andrew Wilson.

LismoreThe median house price in Lismore decreased to $340,000, a 2.9 per cent fall over the quarter. Overall, the median house price in the region increased by 0.7 per cent over the year.

“Lismore is recording subdued house price growth in contrast to the strong results of adjacent coastal centres but clearly appeals as the most affordable of the major northern NSW markets,” said Domain Chief Economist, Dr Andrew Wilson.

$297,000

-1% AlburyMedian property priceSeptember 2016 YoY Growth

$440,000

5.8% Coffs HarbourMedian property priceSeptember 2016 YoY Growth

$550,000

12.2% BallinaMedian property priceSeptember 2016 YoY Growth

$355,000

2.9% DubboMedian property priceSeptember 2016 YoY Growth

$340,000

0.7% LismoreMedian property priceSeptember 2016 YoY Growth


NewcastleHouse prices in Newcastle increased by a healthy 4.2 per cent over the quarter, reaching $530,000, an annual increase of 9.3 per cent.

“Despite continuing strong prices growth, Newcastle remains an affordable option for Sydney buyers seeking lifestyle alternatives,” said Domain Chief Economist, Dr Andrew Wilson.

OrangeThe median house price in Orange had a solid increase of 6.1 per cent over the quarter, reaching $350,500, an annual increase of 0.4 per cent.

“A significant revival in the local economy has brought new life to the Orange market, where house prices are tracking upwards following a quiet period,” said Domain Chief Economist, Dr Andrew Wilson.

TweedIt was another solid quarter of growth for Tweed, where the median house price rose to $520,000, a 2.0 per cent quarterly increase and 13.0 per cent annual growth.

“High demand from lifestyle and retiree buyers is stimulating the Tweed market, with house prices increasing at the fastest annual rate of all the major NSW regional cities,” said Domain Chief Economist, Dr Andrew Wilson.

Wagga WaggaMedian house prices in Wagga Wagga decreased by 4.9 per cent over the quarter. At $313,750, the median price has fallen 2.0 per cent over the year.

“After a recent period of solid growth, house prices in Wagga Wagga are now weakening, recording the sharpest quarterly decline of all the major NSW regions,” said Domain Chief Economist, Dr Andrew Wilson.

QueenslandCairnsMedian house prices in Cairns increased to $407,000, a marginal 0.6 per cent growth in the September quarter. While over the year, the median price decreased by 3.1 per cent.

“Price growth has slowed over the past year in Cairns but the revival of price growth this quarter is a good sign for the local market,” said Domain Chief Economist, Dr Andrew Wilson.

$530,000

9.3% NewcastleMedian property priceSeptember 2016 YoY Growth

$520,000

13% TweedMedian property priceSeptember 2016 YoY Growth

$350,500

0.4% OrangeMedian property priceSeptember 2016 YoY Growth

$313,750-2% Wagga Wagga

Median property priceSeptember 2016 YoY Growth

$407,000

-3.1% CairnsMedian property priceSeptember 2016 YoY Growth


Gold CoastOver the September quarter, the median house price on the Gold Coast decreased by 1.4 per cent to $562,000. Despite the quarterly decline, Gold Coast prices have had a healthy 3.1 per cent annual increase.

“Following a year of sustained growth, Gold Coast house prices have weakened over the September quarter. A strong local economy will likely encourage the resumption of house price growth in the near future,” said Domain Chief Economist, Dr Andrew Wilson.

MackayHouse prices have increased by 2.4 per cent over the quarter, reaching $322,500. Mackay has been a poor market performer over the year, with a 9.2 per cent decline in growth.

“There are positive signs emerging for the Mackay housing market with the price increases over the quarter suggesting it is coming out of the recent period of market inactivity,” said Domain Chief Economist, Dr Andrew Wilson.

RockhamptonThe median house price in Rockhampton increased to $315,000, up by 1.0 per cent over the quarter. Overall, the prices have decreased by 4.5 per cent over the past year.

“The revival of prices in Rockhampton this quarter points to a stabalisation of the local housing market after a lengthy quiet period,” said Domain Chief Economist, Dr Andrew Wilson.

Sunshine CoastThe median house price for the Sunshine Coast increased marginally to $545,000, up by 0.4 per cent over the quarter and 4.8 per cent over the year.

“The Sunshine Coast had another solid quarter of growth and activity. The region continues to attract buyer attention suggesting price growth will continue throughout 2016,” said Domain Chief Economist, Dr Andrew Wilson.

TownsvilleMedian house prices in Townsville fell to $330,000, down by 2.9 per cent over the quarter and 4.3 per cent over the year.

“The Townsville market continues to report declining activity with prices falling again over the quarter and no clear indication of it flattening out in the recent sustained period of weakening prices growth,” said Domain Chief Economist, Dr Andrew Wilson.

$562,000

3.1% Gold Coast Median property priceSeptember 2016 YoY Growth

$315,000

-4.5% RockhamptonMedian property priceSeptember 2016 YoY Growth

$322,500

-9.2% MackayMedian property priceSeptember 2016 YoY Growth

$545,000

4.8% Sunshine CoastMedian property priceSeptember 2016 YoY Growth

$330,000

-4.3% TownsvilleMedian property priceSeptember 2016 YoY Growth


Median prices

Domain Regional House Price Report — September 2016

Stratified Median Regional House Prices (Quarterly)

Quarterly stratified median prices – VIC

Houses Sep-16 Jun-16 Sep-15 QoQ % Δ YoY % Δ

Ballarat $310,000 $305,400 $292,500 1.5% 6.0%

Greater Bendigo $328,000 $338,250 $320,000 -3.0% 2.5%

Greater Geelong $415,000 $417,750 $407,000 -0.7% 2.0%

Wodonga $316,000 $310,000 $285,000 1.9% 10.9%

Quarterly stratified median prices – NSW


Albury $297,000 $312,000 $300,000 -4.8% -1.0%

Ballina $550,000 $527,000 $490,000 4.4% 12.2%

Coffs Harbour $440,000 $433,000 $416,000 1.6% 5.8%

Dubbo $355,000 $343,000 $345,000 3.5% 2.9%

Lismore $340,000 $350,000 $337,500 -2.9% 0.7%

Newcastle $530,000 $508,750 $485,000 4.2% 9.3%

Orange $350,500 $330,500 $349,150 6.1% 0.4%

Tweed $520,000 $510,000 $460,000 2.0% 13.0%

Wagga Wagga $313,750 $330,000 $320,000 -4.9% -2.0%

Quarterly stratified median prices – QLD


Cairns $407,000 $404,500 $420,000 0.6% -3.1%

Gold Coast $562,000 $570,000 $545,000 -1.4% 3.1%

Mackay $322,500 $315,000 $355,000 2.4% -9.2%

Rockhampton $315,000 $312,000 $330,000 1.0% -4.5%

Sunshine Coast $545,000 $542,750 $520,000 0.4% 4.8%

Townsville $330,000 $340,000 $345,000 -2.9% -4.3%

September 2016 June 2016

WodongaGreater Geelong

Greater Bendigo

Ballarat$0

$100k

$200k

$300k

$400k

$500k

VIC

Tweed Wagga Wagga

OrangeLismore NewcastleDubboCoffs Harbour

BallinaAlbury$0

$100

$200

$300k

$400k

$500k

$600k

NSW

Sunshine Coast

TownsvilleMackay ROKGold Coast

Cairns$0

$100k

$200k

$300k

$400k

$500k

$600k

QLD


Copyright and DisclaimerSource: Australian Property Monitors 1 800 817 616. Copyright APM Pty Limited.

APM DisclaimerPublished and compiled by Australian Property Monitors ACN 061438006. 100 Harris Street, Pyrmont, NSW 2009.In compiling this publication, the Publisher relies upon information supplied by a number of external sources. The publication is supplied on the basis that while the Publisher believes all the information in it will be correct at the time of publication, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to the Publisher for the supply of such information.

New South Wales Land and Property InformationContains property sales information provided under licence from the Department of Finance and Services, Land and Property Information.

State of VictoriaThe State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Sales Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.

State of Queensland© State of Queensland (Department of Natural Resources and Mines). In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws.

Government of the State of South AustraliaWarningThe information contained in this dataset is extracted from records of land status and cadastral boundary definition held by the Government of South Australia (the ‘State’). The information is not represented to be accurate, current, complete, or suitable for any purpose, at the time of its supply by the State, and may have changed since the date of supply by the State. The software by which the information is provided is not represented to be error free. No responsibility is accepted by the State for any reliance placed by any person upon the information, or the software by which it is provided. Persons acquiring or using the information and its associated software must exercise their independent judgement in doing so.

CopyrightCopyright in the information remains with the Crown in right of the State of South Australia. The information is reproduced under licence from the Crown.

PrivacyThe information contained in this dataset must not be used for the purposes of compiling contact lists, whether personalised or not.

Crown in Right of TasmaniaThis product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania. The Crown in Right of Tasmania and its employee and agents: a. give no warranty regarding the data's accuracy, completeness, currency, or suitability for any particular purpose b. do not accept liability howsoever arising including but not limited to negligence for any loss resulting from the use of or reliance upon the data.

Australian Capital TerritoryThe Territory Data is the property of the Australian Capital Territory. No part of it may in any form or by any means (electronic, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or transmitted without prior permission. Enquiries should be directed to: The Executive Director, ACT Planning and Land Management, GPO Box 1908, Canberra, ACT 2601.

Northern TerritoryCopyright in the underlying data for the Northern Territory is owned by the Northern Territory of Australia represented by the Department of Infrastructure, Planning and Environment for which no responsibility is accepted.

Western Australian Land Information Authority (Landgate)Western Australian Land Information Authority (2015) trading as Landgate. Based on information provided by and with the permission of the Western Australian Land Information Authority (2015) trading as Landgate.

About Domain Group

Domain Group, a Fairfax Media real estate business, is a leading supplier of multi-platform property marketing and search solutions. We deliver property information, CRM technology, research and data solutions nationally to property seekers and sellers, real estate agencies, developers, government organisations and financial markets.

Domain Group’s data and property research division, comprising APM and Pricefinder products, has been helping consumers and organisations make informed decisions about property since 1989. We collate commercial, rural and residential property activity from a large variety of sources including auctions, government and semi-government agencies, real estate advertising and agent businesses, plus researchers. This vast pool of government and propriety information ensures our databases and products contain the latest and most detailed property and Real Estate market information available.

For more on Domain Group data and research go to www.domain.com.au/groupdataCopyright Domain Group and Australian Property Monitors 2015. Any reproduction of, or reference to, any part of this report must attribute the source. The Domain Group House Price and Market series is subject to revision as a result of time lags with the reporting and collection of sales transaction data.

DM15

498

domain regional house price report - amazon s3 · domain regional house price report - september...

Documents