Price data from leading industry website realestate.com.au shows market conditions across Australia are highly variable and generally present a positive outlook for the market.
The realestate.com.au numbers show that Hobart has continued to out-perform, with prices rising 8.4% in the past year. It records annual house price decline of 5.9% in Sydney and 1.5% in Melbourne, considerably less than the rate of decline claimed by CoreLogic. Adelaide prices rose 1.1% on average but its high rate of views per listing – 1257 – reflects a market in strong demand, says realestate.com.au chief economist Nerida Conisbee.
She says tighter lending and negative sentiment have caused lower house prices in some cities, but she expects the low jobless rate to help the biggest cities ride out the downturn. “We’re not seeing the big jumps in listings that are typical of a price crash,” Conisbee says. She says APRA winding back the cap on interest-only loans in December was the first sign it will get easier to borrow.