• Property Market Update September 2018

    Property Market Update September 2018

    Market growth is a great way to get ahead in property. But there’s another way you can increase the value of your home – and improve your quality of life while you’re at it. 

    One of the great things about investing in property is that the market can often do the heavy lifting for you. When house prices are rising, home owners can potentially benefit without having to spend a cent. 

    In the last five years, property prices in Australia have risen by 31%. That’s despite our combined capital cities falling 2.9% over the last 12 months1 .

    You could potentially use equity you’ve built up over the last five years to make your home more environmentally-friendly and more attractive to potential buyers.  For some helpful ideas, see Kyal and Kara's blog on eco-friendly design and our top eco-smart hacks for your home

    Even if you’re not thinking of selling any time soon, making some ‘eco-smart’ changes to your home could make it more enjoyable and more economical to live in – reducing your energy bills for years to come. Better still, you’re doing your bit to help the planet. 

    I look forward to updating you again next quarter as we keep a close watch on market events this Spring.

    Median dwelling (house/unit) prices at 31 August 20181

    City Median dwelling price (house and units) Capital growth last 12 months
    Sydney $855,287 -5.6%
    Melbourne  $703,183 -1.7%
    Brisbane $493,922 0.9%
    Adelaide $438,466 1.0%
    Perth $454,007 -2.1%
    Darwin $439,718 -4.0%
    Hobart $437,254 10.7%
    Canberra $593,886 2.3%
    Combined capitals $646,020 -2.9%

    1CoreLogic Home Value Index, 3 September 2018

     

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    The information here is of a general nature only and is not intended to constitute financial or tax advice. You should consult your professional adviser, accountant or taxation expert for advice specific to your personal circumstances.

    The views and opinions expressed in this article are those of the author alone and do not necessarily represent the views or opinions of RAMS Financial Group Pty Ltd ABN 30 105 207 538 (RAMS),  Westpac Banking Corporation ABN 33 007 457 141 (Westpac) or their related bodies corporate. This article is strictly for information purposes only and neither RAMS, Westpac nor any of their related bodies corporate make any representation as to the accuracy or completeness of the information in this article or endorse the views expressed in it.