A hot property market. The real estate market continues to perform incredibly well…
According to the Australian Bureau of Statistics (ABS), the total value of residential dwellings in Australia has now surpassed $8 trillion for the first time. This is quite significant!
During the March quarter of 2021, the total value of residential dwellings in Australia’s increased by $449.9 billion. This is a new record increase that has not been seen before.
At the same time, national property prices rose 5.4%. This is the fastest growth return since since the December quarter in 2009. All capital cities contributed to the growth. Here is a summary below:
- Sydney = 6.1%
- Hobart = 6.1%
- Canberra = 5.6%
- Perth = 5.2%
- Melbourne = 5.1%
- Darwin = 4.7%
- Brisbane = 4.0%
- Adelaide = 4.0%
There are always great buying opportunities, but careful consideration need to be made. Seeing this level of capital growth brings plenty of confidence to buyers, but seeking property advice has never been more beneficial. You can contact us if you are wanting to enter the property market, or wish to capitalise on extending your property portfolio. There are many great opportunities, but not all property types or locations suit everyone.
Please feel free to contact us. We would welcome the opportunity to help.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more please contact us. We welcome the opportunity to assist you.
June 2021
