New research released last week by Onthehouse.com.au reveals that residential capital growth rates for May were lower than expected, with numbers dropping in many capital cities.
In many areas, both houses and units experienced negative growth rates for the month. Overall, houses in Australia experienced only 0.36% growth in May compared to 1.71% in the last quarter. Units dropped 0.23% for the month compared to 1.17% in the last quarter.
Sydney house growth stalled in May at just 0.24%, but is still up 17.42% for the last 12 months. House values in Melbourne entered negative territory for May, falling 0.03%, however this market has recorded 9.45% growth in the past 12 months.
The largest growth rate for houses was seen in Country Western Australia (2.38%), which contrasts strongly with Perth, which experienced the worst growth rate nationally with values falling by 1.90% in May.
For units, the highest growth was in the Northern Territory (1.53%) while unit values fell by 2.73% in Country Tasmania.
| Houses | ||||
| Area | Median Value | Growth May 2013-May 2014 | Last Quarter | May 2014 |
| ACT | $531,500 | 2.28% | 0.07% | 0.55% |
| Adelaide | $412,000 | 4.61% | 1.55% | -0.15% |
| SA Country | $252,500 | -0.37% | -2.85% | -0.29% |
| Brisbane | $467,000 | 7.52% | 2.77% | 0.41% |
| QLD Country | $379,000 | 2.76% | 1.33% | -0.51% |
| Darwin | $575,500 | 1.30% | -1.22% | -0.53% |
| Northern Territory | $538,500 | 3.24% | 1.92% | 0.98% |
| Hobart | $361,000 | 0.41% | -1.18% | -0.82% |
| TAS Country | $266,500 | -0.32% | 2.18% | 0.87% |
| Melobourne | $627,500 | 9.45% | 1.77% | -0.03% |
| VIC Country | $337,500 | 3.52% | 0.64% | 0.28% |
| Perth | $526,500 | 4.19% | -2.24% | -1.90% |
| WA Country | $352,500 | 2.87% | 5.01% | 2.38% |
| Sydney | $823,500 | 17.42% | 4.72% | 0.24% |
| NSW Country | $375,500 | 7.15% | 1.65% | 0.34% |
| Australia | $464,500 | 5.76% | 1.71% | 0.36% |
| Units | ||||
| Area | Median Value | Growth May 2013-May 2014 | Last Quarter | May 2014 |
| ACT | $410,000 | 1.07% | -0.56% | -0.28% |
| Adelaide | $315,000 | 3.53% | 2.54% | 0.64% |
| SA Country | $239,000 | 13.73% | 6.43% | -0.02% |
| Brisbane | $364,500 | 5.27% | 1.59% | -0.22% |
| QLD Country | $314,500 | 4.93% | 1.38% | 0.62% |
| Darwin | $431,000 | 2.50% | 0.43% | 0.42% |
| Northern Territory | $416,000 | 4.26% | 2.38% | 1.53% |
| Hobart | $261,500 | 7.12% | 2.31% | -2.38% |
| TAS Country | $189,500 | -6.47% | -5.77% | -2.73% |
| Melobourne | $458,000 | 6.32% | 1.58% | -0.07% |
| VIC Country | $257,000 | 1.21% | -0.39% | -0.20% |
| Perth | $459,000 | 1.84% | 1.14% | -1.21% |
| WA Country | $322,500 | 6.54% | 0.90% | -1.02% |
| Sydney | $562,000 | 13.59% | 2.81% | 0.27% |
| NSW Country | $315,000 | 6.86% | 2.15% | -0.08% |
| Australia | $428,500 | 6.88% | 1.17% | -0.23% |
