Taylored Property Wealth

Monthly Property Data Breakdown

Monthly Property Data Breakdown

The first month of the year is done and dusted already! With January being over, this means for all of us property nerds that the monthly property data is out to look at.

Let’s have a look at what the market is doing. Over the last year, virtually everywhere has seen huge gains in the property space, however the market is starting to separate itself and not all areas are recording the same results. Let’s get into it!

Corelogic has reported a national housing value rise of 1.1% for the month of January 2022. Out of the eight capital cities in Australia, five have recorded a modest increase in the monthly property growth. The quarterly growth has softened, highlighting a slow `growth rate longer term for multiple regions of Australia.

Tim Lawless, Core Logic’s Research Director, states that the early indicator showcases that the start of 2022 is emulating the trend of late 2021. Values are still increasing however not at the rate that they were in the beginning half of 2021.

It’s important to note the separation in the performance of the capital cities. Brisbane is out in front with 2.3% growth for the month, followed closely by Adelaide with 2.2% and Canberra coming in third place with 1.7%.

Brisbane and Adelaide are the two capital cities standing out above 2% growth, with affordability being a big factor in combination with low stock levels and demographics supporting housing demand.

Sydney recorded 0.6% for the month and Melbourne 0.2%. it’s important to note that these are two capital cities holding a median house value above 1 million dollars. This softening correlating to being closer to the borrowing capacity ceiling and affordability being a factor dampening the growth.

Interestingly, Canberra is the third Capital City that has a median house value above 1 million dollars however has seen a 1.7% increase.

Tim Lawless also noted that Sydney and Melbourne have seen supply levels normalize over the recent months with the supply and demand becoming more balanced. Adelaide and Brisbane seeing the growth above 2% are experiencing tight supply levels with buyer competition a key factor supporting the upwards pressure on prices.

Looking at the Domain Quarterly House Price Report we can compare the performance of the unit market vs that of the housing market.

This report showcases that the yearly growth rate of houses has outperformed the yearly unit growth rate by more than 3 times the amount. Therefore, at Taylored Property Wealth we focus on existing properties on large pieces of land. We know that the power is in the land, being the appreciating portion of the asset.

Housing Market as per Domains Quarterly House Price Report

 

Unit market as per Domain Quarterly Unit Price Report

 

2022 has started off the year with a bang and it will be interesting to see the year unfold with the more affordable areas likely to continue to outperform the capital cities with higher median values.

If you are in a position to purchase an investment property and you want to ensure that you nail the purchase please reach out to us at info@tayloredpropertywealth.com.au and we would love the opportunity to catch up, get an understanding of what you’re looking to do and working together as a team to select a high quality property for you.

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