Freer Property and Finance

The ANZ Bank's Australian Property Outlook shows that despite rising interest rates, economic growth is expected to return to `trend' by the second half of 2010 buoyed by record population growth, a lift in dwelling construction and strong mining and infrastructure investment.

Over the first 11 months of 2009, Australian home values have now risen by 11.3 per cent following on from their modest 3.8 per cent peak-to-trough falls in 2008.
The most important story of 2009 has been the extraordinary recovery in the Melbourne and Sydney housing markets. In the three months to end November, home values in Melbourne and Sydney have outperformed most other capitals rising by 4.5 per cent and 3.2 per cent, respectively (see summary tables for more).

Key Statistics

• National dwelling values up 1.1% in month of November
• National dwelling values up  11.3% over first eleven months of ‘09

Capital growth and median dwelling prices

Australian capital cities, first eleven months of 2009 :

• Sydney values ↑ 11.6% ($475,000)
• Melbourne values ↑ 17.0% ($450,000)
• Brisbane values ↑ 6.9% ($426,750)
• Adelaide values ↑ 5.7% ($355,500)
• Perth values ↑ 6.5% ($460,000)
• Darwin values ↑ 17.9% ($445,000)
• Canberra values ↑ 10.9% ($461,500)
• Hobart values ↑ 14.2% ($310,050) (Hobart data is based on final October figures)
  

Net overseas migration to Queensland was 54,410 persons in the year ending 30 June 2009. The figure for the latest 12-month period was the highest annual figure recorded since the introduction of the estimated resident population series by the Australian Bureau of Statistics in 1971