CoreLogic’s Mapping the Market Report looks at suburb median values, comparing current values to five years ago. Outside of Sydney and Melbourne housing market conditions have generally seen much lower rates of the capital gain that has provided a more affordable playing field for home buyers.
In Sydney, more suburbs now have a median house value in excess of $1 million than below. In Melbourne, only slightly more likely to find a suburbs with a median house value below $750,000 than you are to find one with a median above $1 million.
10.6% of Sydney suburbs had a median value of more than $2 million in June 2019 compared to 3.2% of suburbs in June 2014.
31.4% of Sydney suburbs currently have a median unit value below $500,000 compared to 53.1% of suburbs five years earlier.
In June 2014, 41.7% of suburbs in Melbourne had a median house value of less than $500,000 compared to 6.9% by the end of June 2019.
The share of Melbourne suburbs with a median unit value of more than $500,000 has increased to 57.2% in June 2019 from 25.3% in June 2014.
The share of Brisbane suburbs with median house value under $500,000 has shrunk from 52.4% in June 2014 to 40.3% in June 2019.
12.5% of Brisbane suburbs have a current median unit value in excess of $500,000 compared to 8.0% of suburbs in June 2014.
As at the end of June 2019, 93.7% of Adelaide suburbs had a median house value of less than $1 million compared to 97.7% of suburbs five years earlier.
As of June 2014, 26.0% of Adelaide suburbs had a median unit value of less than $250,000 compared to 21.5% in June 2019.
As of June 2014, 15.0% of Perth suburbs had a median house value of more than $1 million with the share rising slightly to 10.3% by June 2019.
The share of Perth suburbs with a median unit value of less than $250,000 has increased from 15.8% in June 2014 to 25.9% in June 2019.
A great location is a key to any property investment plan. Buyers seeking a family home should also aim for these fundamentals. a poorly positioned property might be cheap to buy now, but it would be harder to sell or rent out down the track.