Home prices in Australia vary quite a lot between states and cities with each housing market having individual characteristics. Home prices in Sydney will be different form home prices in Melbourne, Brisbane, Adelaide and Perth. Not to mention the regional areas which are different again. Each individual property market will be at a different stage of the property cycle at any single point in time. Even within the same city there can be suburbs experiencing a boom in house prices while others experience slower capital growth.
Australian home prices are driven by a wide variety of influences both within the country and worldwide. They can be affected by such factors as domestic interest rates, the stock market, land releases, building material and labour costs, demographic shifts such as declining household sizes, interstate and overseas migration, inflation, population growth, unemployment figures, government infrastructure investment, transport infrastructure, taxation changes and much more.
Research on home prices in the suburbs you are most interested in can help you gain an outlook on the overall property investment outlook. Our Suburb Sales History and Postcode Sales History reports give you a good overview of home prices in an area by listing sales details of recent property sales in that area. In most cases these include street addresses, sale prices and dates. If you get our Detailed Suburb Profile you can also see the median house price of the suburb. By looking at what other similar homes have sold for in an area you can get a very good idea of the value of a particular house, unit or block of land.
RP Data are very experienced in residential property valuations as we have been collecting home price data since 1991. Throughout Australia, thousands of real estate agents use our database to help with valuing homes. For them it is vital to set the correct price on a house in order to enable a smoother property sale process.
To try out our service why not try our free suburb median home prices report.