- April 23, 2014
- Posted by: Rogers Property Group
- Category: Latest News
Overall the Australian property market had a cracker year for 2013…..if you knew where to look. So where were the best locations for property investment for 2013?
Any property investment advisor will tell you Sydney was the best performing market for 2013 achieving capital growth of 14.5%. This took the median house price up to $655 000. The increasing demand, reduced supply and lack luster performance of the past meant that the Sydney property market has really shot out of the doldrums in the last few years.
The next best performer was Perth. The mining backed giant performed well and achieved 9.9% for 2013. As at Jan 2014 it had a median house price of $520 000. This is increasing at a rate of around $1 200 per week. While it has been a great performer, it may be heading towards the top of its property cycle. As a property investment advisor would advise some caution when entering into this market.
Melbourne also performed well. Rising 8.5% and reaching a median of $563 000. Melbourne however, has been very much a two tier market for property investment with the inner city suburbs doing well but the outskirts struggling due to oversupply. The supply demand equilibrium is starting to come back and Melbourne will be a place to watch in the next 18 months.
Brisbane rose a respectable 5.5% with a median of $455 000. Brisbane’s cycle is a little behind Sydney. The Brisbane market has only really started to kick in the last 4 months and is now running hot. Without a doubt Brisbane is the market to be in for property investment in 2014 as it catches up with the other states medians with its delayed cycle.
With historically low interest rates that are anticipated to stay low for the medium term, it would appear that residential property is the right market to be in for the next few years. If you are wondering how to get started in property investment, talk to a qualified advisor who is up to date with market trends.