The property market has been on a strong incline in Australia as the market data has shown. Chifley Securities has been watching the data and here’s a statistic that supports the evidence the data has been displaying.<\/p>\n
A record high of 10% of all homes sold across the country in the last 12 month had a purchase price of more than a $1 million dollars. Now there is also the other end to this spectrum and that is more homes than ever have sold for less than $200k almost exclusively in Hobart and Adelaide.<\/p>\n
In the last 12 months in Sydney to March 2015, a record low 8.9% of Sydney houses sold for less than $400,000 compared to a record high 34.0% of houses selling above $1 million. The remaining 59.2% occurred between $400,000 and $1 million.<\/p>\n
In Melbourne 24.5% of houses and 36.9% of units sold for less than $400,000 during the 12 months to March 2015. \u00a0In comparison, 16.5% of houses and 5.1% of units sold for more than $1 million.<\/p>\n
In Brisbane across all sales, 30.6% of houses and 52.5% of units transacted in Brisbane over the year to March 2015 sold for less than $400,000. \u00a0The proportion of houses sold for less than $400,000 was at a record low while the proportion for units was lower in the middle of last year.<\/p>\n
Chifley Securities notes that in all these states and scenarios the lower end of the marketing is feeling the affects with a drop in sales for homes selling below a certain price point ( in the $400k range ).<\/p>\n
If we were looking at the market 10 years ago we would have seen that 90% of property sales we’re for homes priced under $400k. The historical trend pattern shows that sales for home values in this range are on a sharp decline.<\/p>\n
So to sum up the numbers and get a wholesome understanding we can expect that overtime the cost of housing will rise. As a result more people will have to chose to rent or alternatively move away from major capital cities to smaller towns where housing is more affordable. This usually also means that it is harder to find employment opportunities in smaller towns.<\/p>\n","protected":false},"excerpt":{"rendered":"
The property market has been on a strong incline in Australia as the market data has shown. Chifley Securities has […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,40,58,17,18,59],"tags":[56,47,57,8,60,61,62],"acf":[],"yoast_head":"\n