According to globalpropertyguide.com, Sydney’s house prices rose by 3.6% in June after experiencing property value declines for six consecutive months. Meanwhile, Melbourne posted an 8.2% increase in property values over the past 12 months, marking the most profound growth of any capital city in the said time period.
Other cities also registered gains, including Canberra at 6%, Hobart at 4.9%, Brisbane at 4.3%, and Adelaide at 3.5%. This has led to an 8.2% increase in the average price of a house in Australia at $623,000. However, both Perth and Darwin posted losses of 4.8% and 6.5%, respectively.
With most capital cities posting satisfactory growth numbers for 2016, it looks like Australia’s real estate market is set to continue growing. This is great news in general for seasoned investors, but those who are looking for their first investment might need to take some form of property development loans or mezzanine finance property development to get started. Many financial institutions provide these services, so it is very important to do solid research and stock up on capital before entering the real estate investing market.
