Friday, January 20, 2012

Home Equity

A summary from the recent September 2011 Quarter RP Data home equity report.

The highlights of the report are:
  • Over the five years to September 2011, capital city home values increased by around 28 per cent.
  •  Australian housing markets recorded value declines recently with capital city home values down 3.3 per cent from their October 2010 peak to September 2011.
  • Properties in Queensland and South Australia have higher turnover rates; therefore equity levels in these states tend to be lower than in other states.
  • Far North Queensland & the Gold and Sunshine Coasts have the highest instances of negative equity at 20.2%, 14.0% and 13.5% respectively. 
  • The highest proportion of homes that are now worth at least double their initial purchase price is typically either regional and non-coastal, or capital city markets. 
  • Capital cities have enjoyed long-term value appreciation and have proven to be less susceptible to ongoing value falls than certain non-capital city markets.

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