Australian Real Estate Price Trends
Property Prices and Commentary
Being resident outside of Australia makes a difficult process - the selection and purchase of a house or apartment - even more demanding than usual. Expatriates are clearly hampered by being "outside the market" in terms of assessing market trends and investigating properties exhaustively, and there is the impact of fluctuating exchange rates to consider. In practice, given the importance of the purchase, you should probably at least consider using a buyer's agent to assist in terms of shortlisting, if not negotiating the complete purchase, of your house purchase.
Local media reports and various indices will provide you with a general feel for how the market is currently moving within a capital city or region, if not within precise localities or suburbs. The links below provide access to a range of property reports. They include the most recent Westpac Residential Property Reports and the Australian Bureau of Statistics Capital City Index of Housing Prices.
Westpac Bank
Australian Bureau of Statistics
Housing Price Quarterly Index - Australian Capital Cities - December 2011
The chart below summarises the annual movement in established house prices in Australian major cities in the four quarters up to December 2011. More detailed ABS data showing the quarterly percentage change in prices in each of the major Australian capital cities from October 2001 to December 2011 are separately provided. You need to have Adobe Flash Player 8 (or above) to view the charts.
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