Australian Property Prices and Market Commentary
Being resident outside of Australia makes a difficult process - the selection and purchase of a house, apartment or holiday home - 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 at least consider using a buyer's agent to assist in terms of shortlisting, if not negotiating, the complete purchase of any real estate.
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.
Go to the following pages if you want an indication of current Australian mortgage interest rates or to initiate an Australian Mortgage Inquiry.
Current Residential Property Analysis
We have worked with Performance Property for a number of years and the firm takes a research/data driven approach to identifying and purchasing property in Australia. The reports below provide an indication of the sort of detailed micro and macro analysis that the firm generates in relation to the residential property markets in Sydney, Melbourne, Newcastle, Perth, Adelaide, Brisbane, Hobart, Darwin and the Gold Coast, which overseas buyers will find useful.
Australian Bureau of Statistics
The chart below illustrates the annual movement in established house prices in Australian major cities in the four quarters up to December 2019. Further charts are available showing the quarterly percentage change in house prices in each of the major Australian capital cities since 2003.
Whilst ABS statistics are probably the most accurate available on the real estate market, they are necessarily historical and represent a "rear window" view. Consequently, they will not necessarily represent a clear indication of market conditions during the current corona virus pandemic.
Australian Major Cities: % Annual Price Changes
Four Quarters to March 2020: Source ABS