MELBOURNE
HOUSES: Last 12 months to March 2008 Values up +20.03% (Residex) + 13.7%% (Real Estate Institute) Rentals up + 12.0% (Real Estate Institute) APARTMENTS: Last 12 months Values up +14.9% (Residex) -+ 5.9% (Real Estate Institute) Rentals up + 13.5% (Real Estate Institute) EXECUTIVE SUMMARY: FAVOURABLE BUYING CONDITIONS Melbourne remains a viable alternative to Sydney. As with Sydney, Melbourne is suffering building shortages. With continuing record population growth and new migration number second only to Sydney demand should increase over the next few years, with rising rents and prices to continue upwards.
BIS Shrapnel expects to see a 16% median house price growth over the three years to 2011. PERTH HOUSES: Last 12 months to March 2008 Values up +6.39% (Residex) + 5.9% (Real Estate Institute) Rentals up + (Real Estate Institute) APARTMENTS: Last 12 months Values up +6.39% (Residex) -+ 5.9% (Real Estate Institute) Rentals up + (Real Estate Institute) EXECUTIVE SUMMARY: THE BOOM IS OVER It is clear now the West Australian economy is by far the strongest in , which should provide some stability to the property market, even though the boom has ended. Rents are showing good growth which will entice some investors back into this market. Perth may be a bit of a dark horse this year, with some selected areas continuing to show 7 to 8% growth. West Australia continues to attract over 30,000 new migrants each year from overseas, and with no end to the commodity boom likely in the foreseeable future, Perth will remain a good long term investment. BIS Shrapnel expects to see a 9 % median house price growth over the three years to 2011. BRISBANE HOUSES: Last 12 months to March 2008 Values up +21.15% (Residex) + 14.3%% (Real Estate Institute) Rentals up +14.29% (Real Estate Institute) APARTMENTS: Last 12 months Values up +6.39% (Residex) -+ 5.9% (Real Estate Institute) Rentals up + 14.29% (Real Estate Institute)
EXECUTIVE SUMMARY:I INNER AREAS GREAT BUYING Brisbane has been a good performer over the past 12 months with both houses and apartments increasing. South East Queensland is experiencing record population growth too, and many more houses than are being built will be needed. Queensland is enjoying a commodity boom, with low unemployment and increasing consumer spending. The shortage of new residential near the city has been put down to the office boom, where developers turned their sites into commercial projects instead of residential. The supply within 10 kms of Brisbane is very tight, with high demand as strong as ever. Rental shortages means we should seen rent increases here too. BIS Shrapnel expects to see Brisbane lead the way with price growth of 22% in the median house price over the three years to 2011. ADELAIDE HOUSES: Last 12 months to March 2008 APARTMENTS: Last 12 months Values up +22% (ResidEX)
The most affordable prices in Australia, combined with speculation surrounding what many believ will be an impending resources boom in South Australia are drawing in proeprty investors to Adelaide. A lot of people are viewing Adelaide as the new Perth,and are hoping to ride that wave of capital growth.
AUSTRALIA'S HISTORICAL CAPITAL GROWTH CHART: www.citylifeproperty.com/buyerhelp.asp (c)Citylife Property Group Limited. |
