{"id":438,"date":"2022-07-04T09:00:00","date_gmt":"2022-07-03T23:00:00","guid":{"rendered":"https:\/\/breakfreewealth.com.au\/finance-brokers\/?p=438"},"modified":"2022-07-02T11:32:34","modified_gmt":"2022-07-02T01:32:34","slug":"property-market-update-july-2022","status":"publish","type":"post","link":"https:\/\/breakfreewealth.com.au\/finance-brokers\/blog\/2022\/07\/04\/property-market-update-july-2022\/","title":{"rendered":"Property Market Update - July 2022"},"content":{"rendered":"
<\/div>

George Auzagelis<\/p><\/div><\/div>\n\n\n

Overall Property Market Snapshot<\/h2>\n\n\n\n

The Australian property market continues to be the principal asset class of choice for Australians with 56.6%<\/strong> of household wealth held in housing at a total estimated value of $9.97 Trillion<\/strong>. This is greater than the combined value of Australian Superannuation, Australian Listed Stocks and Commercial Real Estate.<\/p>\n\n\n

\n
\"Market
Source:<\/strong> CoreLogic - Monthly Housing Chart Pack (June 2022)<\/figcaption><\/figure><\/div>\n\n\n

Furthermore, with outstanding mortgage debt currently at $2.1 Trillion<\/strong>, the Australian Residential Real Estate market has a Loan to Value Ratio (LVR) of 21.1%<\/strong>. Contrary to many mainstream media headlines, the overall market's LVR is not what would be considered to be at critically dangerous levels.<\/p>\n\n\n\n

\n\n\n\n

Median Dwelling Values<\/h2>\n\n\n\n

According to CoreLogic, median dwelling values for the Australian property market in the 8 capital cities as at 30 June 2022<\/strong> were as follows:<\/p>\n\n\n\n

Sydney<\/strong><\/td>Melbourne<\/strong><\/td>Brisbane<\/strong><\/td>Adelaide<\/strong><\/td>Perth<\/strong><\/td>Hobart<\/strong><\/td>Darwin<\/strong><\/td>Canberra<\/strong><\/td><\/tr>
$1 110 660<\/td>$798 198<\/td>$784 826<\/td>$642 470<\/td>$558 644<\/td>$735 936<\/td>$509 833<\/td>$937 568<\/td><\/tr><\/tbody><\/table>
Source:<\/strong> CoreLogic - Hedonic Home Value Index (1 July 2022)<\/figcaption><\/figure>\n\n\n\n

Whilst Sydney continues to have the highest median dwelling value, it is worth noting that despite having the 4th highest population of all the capital cities, Perth's median dwelling value ranks 7th overall. This is approximately 50% of the value of Sydney's median dwelling value, and a staggering $177 292 less than Hobart's median dwelling value which has approximately 10 times less than the resident population of Perth.<\/p>\n\n\n\n

\n\n\n\n

Change in Dwelling Values<\/h2>\n\n\n
\n
\"\"
Source:<\/strong> CoreLogic - Hedonic Home Value Index (1 July 2022)<\/figcaption><\/figure><\/div>\n\n\n

Past Month<\/h3>\n\n\n\n

Combined regionals (0.1%<\/strong> increase) outperformed combined capitals (0.8%<\/strong> decrease) during June 2022. The Regional South Australian (1.8%<\/strong>) and Regional Western Australian and Queensland (0.2%<\/strong>) property markets each led the way. In the capital city market, Adelaide (1.3%<\/strong>) and Darwin (0.9%<\/strong>) continued their impressive recent run, whilst Sydney (-1.6%<\/strong>), Melbourne (-1.1%<\/strong>) and Hobart (-0.2%<\/strong>) experienced a decrease in dwelling values.<\/p>\n\n\n\n

Past 3 Months<\/h3>\n\n\n\n

Combined regionals (2.0%<\/strong> increase) outperformed combined capitals (0.8%<\/strong> decrease) during the past 3 months to June 2022. The Regional South Australian (5.3%<\/strong>) and Regional Tasmanian (3.2%<\/strong>) property markets were the top performers. In the capital city market, Adelaide (5.1%<\/strong>) and Brisbane (2.7%<\/strong>) outperformed their peers, whilst Sydney (-2.8%<\/strong>) and Melbourne (-1.8%<\/strong>) both experienced a reduction in dwelling values over the quarter.<\/p>\n\n\n\n

Past 12 Months<\/h3>\n\n\n\n

Combined regionals (19.9%<\/strong> increase) outperformed combined capitals (8.7%<\/strong> increase) during the past 12 months to June 2022. The Regional South Australian (22.3%<\/strong>) and Regional Tasmanian (22.1%<\/strong>) property markets recorded the highest levels of growth. In the capital city market, Adelaide (25.7%<\/strong>) and Brisbane (25.6%<\/strong>) were the standouts, whilst Melbourne (3.1%<\/strong>) and Perth (5.8%<\/strong>) experienced the lowest level of increases in dwelling values over the past year.<\/p>\n\n\n\n

\n\n\n\n

Market Changes in Rents<\/h2>\n\n\n\n
\n
\n
\"Market
Source:<\/strong> CoreLogic - Hedonic Home Value Index (1 July 2022)<\/figcaption><\/figure><\/div><\/div>\n\n\n\n
\n

Houses<\/h3>\n\n\n\n

The Brisbane housing rental market continues to charge ahead with a 13.2%<\/strong> growth in rents over the past year. Adelaide (10.9%<\/strong>) and Canberra (10.4%<\/strong>) have also experienced substantial growth in rents for houses over the proceeding 12 months. This trend appears to be re-gathering the momentum that was lost in the later part of 2021 and early 2022.<\/p><\/p>\n\n\n\n

The Darwin housing rental market has been more subdued, growing at <\/span>3.0%<\/strong> over the previous 12 months. Melbourne (<\/span>5.2%<\/strong>) and Perth (<\/span>6.9%<\/strong>) are also starting to see a slight upswing in rents for houses. <\/span><\/p> <\/p>\n<\/div>\n<\/div>\n\n\n\n

\n
\n

Units<\/h3>\n\n\n\n

The Melbourne unit rental market has outperformed all other capital cities, experiencing a 10.9%<\/strong> growth in rents over the past year. Continued pressure will be placed on these markets as international borders continue to open globally and migrant returns to pre-pandemic levels. Sydney (10.3%<\/strong>) and Adelaide (9.3%<\/strong>) have also seen substantial growth in rents for units over the preceding 12 months.<\/p><\/p>\n\n\n\n

Similarly to housing rents, Darwin has experienced more moderate growth of <\/span>4.3%<\/strong> in unit rents over the previous 12 months. Perth (<\/span>5.5%<\/strong>) and Hobart (<\/span>6.9%<\/strong>) although continuing their annual increase, continue to show a decreasing trend in rents for units.<\/span><\/p> <\/p>\n<\/div>\n\n\n\n

\n
\"Market
Source:<\/strong> CoreLogic - Hedonic Home Value Index (1 July 2022)<\/figcaption><\/figure><\/div><\/div>\n<\/div>\n\n\n\n
\n\n\n\n

Gross Rental Yields<\/h2>\n\n\n\n
\n
\n
\"Gross
Source:<\/strong> CoreLogic - Hedonic Home Value Index (1 July 2022)<\/figcaption><\/figure><\/div><\/div>\n\n\n\n
\n

Combined Property Markets<\/h3>\n\n\n\n

Combined regional gross yields (4.1%<\/strong>) continue to be higher than combined capital gross yields (3.1%<\/strong>).<\/p>\n\n\n\n

Regional Property Markets<\/h3>\n\n\n\n

Regional Northern Territory (6.7%<\/strong>) and Regional Western Australia (6.2%<\/strong>) collectively have the highest regional gross yields, whilst Regional Victoria (3.5%<\/strong>) and Regional New South Wales (3.7%<\/strong>) have the lowest yields.<\/p>\n\n\n\n

Capital City Property Markets<\/h3>\n\n\n\n

Amongst the capital cities, Darwin (6.0%<\/strong>) and Perth (4.4%<\/strong>) continue to offer the best opportunities for investors to purchase a positive to neutrally geared property. On the opposite end of the spectrum, Sydney\u00a0(2.7%<\/strong>) and Melbourne (2.9%<\/strong>) continue to offer the lowest gross rental yields.<\/p>\n<\/div>\n<\/div>\n\n\n\n

\n\n\n\n

Find the full version of the National Media Release by CoreLogic here<\/a>.<\/p>\n\n\n\n

\n\n\n\n

You can find the Property Market Update for June here<\/a>.<\/p>\n\n\n\n

\n\n\n\n
\n
Need some help with your investment journey? CLICK HERE<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Overall Property Market Snapshot The Australian property market continues to be the principal asset class of choice for Australians with 56.6% of household wealth held in housing at a total estimated value of $9.97 Trillion. This is greater than the combined value of Australian Superannuation, Australian Listed Stocks and Commercial Real Estate. Furthermore, with outstanding […]<\/p>\n","protected":false},"author":2,"featured_media":426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"acf":[],"yoast_head":"\nProperty Market Update - July 2022 - BreakFree Wealth<\/title>\n<meta name=\"description\" content=\"Welcome to the BreakFree Wealth - Property Market Update - July 2022 based on CoreLogic's research. 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