Blog

Sydney A Outstanding Market Performer

The analyst’s House Price Report for the December quarter of last year shows the nation’s housing price rose by 2.1 per cent.

Other capitals also saw value rises at the end of 2014, with all but Darwin recording positive gains. Brisbane, Perth, Canberra and Hobart all experienced a rise of more than one per cent. Melbourne’s 0.6 per cent and Adelaide’s 0.1 per cent gains were less dramatic, but still in the right direction.

Darwin’s six per cent fall in values demonstrates a slowdown in the previously runaway market. Dr Andrew Wilson, the senior economist at Domain, says to expect a further quieting in markets, with rate cuts unlikely to influence buyers in 2015.

Within an environment of stagnant national economic growth, house price cycles are set to generally flatten in most capital cities with the exception of Sydney,

Further rate cuts, should they occur, will likely have a minimal impact on housing affordability.