Property Price Changes in Australia between 2005 and 2015.
The average House Price in Australia has increased by an average of 4.32% per year between the years 2005 and 2015, whilst unit prices have risen by a slightly higher average of 4.42%.
Some areas of Australia have risen at a higher rate than average, such as Melbourne, with houses having risen at the highest rate of 7.4% per year. The lower than average areas are Units in Queensland (excluding Brisbane) having risen at only 1.56% per year for those 10 years.
This shows that people who choose to live in main capital cities will see rises in property prices exceeding the rises in income, whilst those living in the country areas may see property values rise slower than incomes.
House Price Changes in Australia between 2005 and 2015.
7.40% Vic – Melbourne
6.90% NSW – Sydney
6.09% NT – Rest of State
6.02% NT – Darwin
4.58% ACT
4.56% SA – Adelaide
4.46% Vic – Rest of State
4.32% Australia – ALL
4.13% QLD – Brisbane
3.80% Average Annual Wage Growth from Nov 2005 to Nov 2015
3.66% NSW – Rest of State
3.04% QLD – Rest of State
3.02% SA – Rest of State
2.89% TAS – Hobart
2.70% WA – Perth
2.39% TAS – Rest of State
2.16% WA – Rest of State
Unit Price Changes in Australia between 2005 and 2015.
6.33% NSW – Sydney
5.63% Vic – Melbourne
5.59% NT – Darwin
5.29% NT – Rest of State
4.45% SA – Adelaide
4.42% Australia – ALL
3.92% WA – Perth
3.80% Average Annual Wage Growth from Nov 2005 to Nov 2015
3.69% QLD – Brisbane
3.62% Vic – Rest of State
3.13% ACT
2.90% TAS – Hobart
2.87% NSW – Rest of State
2.07% SA – Rest of State
2.07% WA – Rest of State
1.79% TAS – Rest of State
1.56% QLD – Rest of State
Sources: