Monthly Sydney Property Insights

There were many things that happened and didn’t happen in the Australian property market this year, according to Terry Ryder for Property Observer.

What never happened

  • Housing bubble
  • White-hot property market
  • Inability to afford property
  • Housing supply shortage
  • Market peak

What actually happened

  • Sydney’s price growth was at its strongest in 10 years.
  • Perth’s price growth was at its strongest since 2007.
  • Melbourne’s annual price growth was 6-7%.
  • Darwin led the market at the start of 2013 but its numbers declined.
  • Brisbane’s annual price growth was 3-4%.
  • Annual price growth for Adelaide, Canberra and Hobart was 1%.
  • The average annual price growth was 6-7%, mostly produced by only three cities.
  • Regional areas, like Port Lincoln SA, Narrabri NSW and Miles QLD, produced an average price growth of over 15%.

What we learnt in 2013

  • The Australian property market isn’t a single entity but thousands of local markets.
  • High-population growth areas are damaged by an oversupply of new dwellings.
  • Developers don’t care about oversupply in major cities if they can sell property in China.
  • A bad place to get real estate information is from metropolitan newspapers.

What to expect in 2014

  • More evenly distributed house price growth.
  • Brisbane will become the new market leader.
  • Sydney and Melbourne numbers will slightly decline but still remain strong.
  • Adelaide’s price growth will be at its strongest since 2010.
  • Canberra will struggle due to an oversupply of apartments and public service cuts.



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