Here are the key takeaways:
- The national market increased by 1.8%, a significant drop from March’s 2.8%, but still a hot annualised growth rate of 21%.
- Combined regionals slightly outperform combined capitals with 1.9% vs 1.8%. Combined capitals edged ahead for the quarter though at 6.8% growth V 6.6%. We’ll continue to watch this closely as we expect the cities margin could widen over the year.
- Darwin shows the highest growth in April, clocking in 2.7% and has the largest growth over the last 12 months at 15.3%. For perspective, the current median of$465,976 is still well beneath its May 2014 peak of $578,825.
- After a surge of 3.7% in March, Sydney home values increase by 2.4% in April, for a whopping 8.8% over the quarter. That is an annualised rate of 35%. It’s worth noting that Sydney values grew by 50% in 1988, so this kind of growth over a year isn’t unique.
- Adelaide surged by 2% or annualised growth of 24% and is now in 10% growth territory over the last 12 months, joining Darwin, Canberra and Hobart.
- Canberra, Brisbane, Melbourne and Hobart all return strong growth of above 1%.