After peaking at 20% annual growth in March 2010 the Australian property market is back at it's usual slow and steady pace having recorded an average annual growth of 5.8% accross the Capital Cities for the year to 31st December 2010.
Melbourne lost its place as Australia's fastest growing major city market with Sydney outperforming it for the December quarter achieveing a 1.6% increase compared to Melbourne's 1.3%.
With the strong recent growth in Melbourne over the past year it still has the highest growth rate for the twelve months however this is expected to cool further as this market cycle comes to an end.
Perth was the worst performer highlighting the value that is currntly in that market as buyers remain uncertain.
Brisbane recorded a 0.7% increase however it will be interesting to see what impact the recent floods will have on the market in 2011. There could be lots of potential hidden in Queensland.
Canberra had a strong surge for the quarter up 1.9% which Adelaide and Darwin both achieved a 1.1% lift for the 3 months to December.
We expect 2011 to be a year of solid but modest growth in Australia after coming of a double digit growth for 2010.
 Source : Australian Bureau of Statistics |
Sep Qtr 10 to Dec Qtr 10 |
Dec Qtr 09 to Dec Qtr 10 |
| Established house prices | % change |
% change |
| Weighted average of eight capital cities | 0.7 |
5.8 |
| Sydney | 1.6 |
7.4 |
| Melbourne | 1.3 |
10.8 |
| Brisbane | 0.7 |
0.7 |
| Adelaide | 1.1 |
3.5 |
| Perth | -3.2 |
-2.0 |
| Hobart | 1.1 |
1.0 |
| Darwin | 0.0 |
1.7 |
| Canberra | 1.9 |
6.5 |
Melbourne lost its place as Australia's fastest growing major city market with Sydney outperforming it for the December quarter achieveing a 1.6% increase compared to Melbourne's 1.3%.
With the strong recent growth in Melbourne over the past year it still has the highest growth rate for the twelve months however this is expected to cool further as this market cycle comes to an end.
Perth was the worst performer highlighting the value that is currntly in that market as buyers remain uncertain.
Brisbane recorded a 0.7% increase however it will be interesting to see what impact the recent floods will have on the market in 2011. There could be lots of potential hidden in Queensland.
Canberra had a strong surge for the quarter up 1.9% which Adelaide and Darwin both achieved a 1.1% lift for the 3 months to December.
We expect 2011 to be a year of solid but modest growth in Australia after coming of a double digit growth for 2010.
