Brisbane dwelling values are $7,796 or -1.6% lower than they were at their peak. In regional Qld, values are -4.9% lower than their peak of -$18,773 lower.

National dwelling values have fallen by -7.4% from their October 2017 peak through to the end of March 2019. While this figure is often quoted, Mr Kusher said it is also important to understand the context in terms of how much that actually equates to in dollar terms.

Looking at falls across the combined capital cities, the decline has been larger than national falls with values -9.2% lower than their September 2017 peak. This translates to an approximate $59,478 reduction in dwelling values. Throughout the combined regional markets, values have fallen by -2.5% or $9,464 from their May 2018 peak.

Let us take a look across the states.

NSW
Sydney values are -13.9% lower than their peak or down $124,739. In regional NSW, values have declined by -4.1% or -$18,674.

VIC
Melbourne dwelling values have fallen by -10.3% or $71,404 from their peak. Regional Vic values are $2,749 lower than their peak having fallen by -0.8%.

QLDBrisbane dwelling values are $7,796 or -1.6% lower than they were at their peak. In regional Qld, values are -4.9% lower than their peak of -$18,773 lower.

Canberra Values are -0.2% lower than their peak or -$1,071.

Mr Kusher said, “While a values percentage fall indicates how the market is fairing, seeing the actual value of the declines is a stark reminder of the actual losses. While the recent declines in markets like Sydney and Melbourne can be put in context of the significant increases over recent years, this is little comfort for home owners that purchased at or near the peak of the market.”

Over the coming months, Mr Kusher expects declines to continue, leading to further falls in asset values. Importantly, he said, “While values are falling, the debt held against these properties is unlikely to be reducing at the same pace resulting in wealth declines for holders of residential property.”

From another perspective, Mr Kusher singles out lower housing values, which are becoming more attractive to first homebuyers and prospective buyers who were previously and mortgage rates tracking around the lowest level since the 1960’s (and potentially moving even lower later this year), active buyers are back in 

SA
Adelaide dwelling values are -0.5% or -$2,307 lower than their peak. Regional SA values are -3.4% or -$8,623 lower than their peak.

WA
Perth dwelling values peaked in mid-2014 and are currently -18.1% or -$97,797 lower. Regional WA values have fallen -31.6% from their peak taking them $118,734 lower.

TAS
Hobart and regional Tas are the only two major regions of the country in which values are yet to have fallen from their peak.

NT
Darwin dwelling values are -27.5% or -$145,980 lower than their peak. In regional NT the falls have been much more moderate at -7.9% or -$31,761

Best Regards

 

Linda 姬琳达珍 and Carlos Debello (LREA)

LJ Gilland Real Estate Pty Ltd

"Your Local Property Management & Sales Specialists"

PO BOX 19 

ZILLMERE 4034 

Ph: 07 3263 6085

0413 560 808

0400 833 800

0409 995 578 (L)

  

 
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In the news recently re bargain buys 

 

In the news recently re bargain buys 24/3/2019 https://youtu.be/Y7RnjdlxRXU