1984 to 2012 Changes in Australian House Prices

1984 to 2012 Changes in Australian House Prices

1984 to 2012 Changes in House Prices:

Perth has been the fastest growing City for median house prices during the 28 years from 1984, with an average increase of 8.36% per year, while Adelaide in South Australia has been the slowest with an average annual rise of just 6.32%.

Median House Prices have risen over these 28 years by the following average annualised growth rates:

Annual Property Growth By Capital City over 28 years
8.36% Perth
7.27% Brisbane
7.14% Melbourne
6.99% Hobart
6.50% Sydney
6.50% Canberra
6.32% Adelaide

How do prices really affect house buyers?

Mortgage Payments as % of Income:

In 2011 90.1% of mortgage payments were UNDER 30% of household income.
In 2006 91.6% of mortgage payments were UNDER 30% of household income.

In 1984 The average New mortgage payment was about 20% of household Income.
In 2012 The average New mortgage payment was about 24% of household Income.

These rates have fluctuated between 18% (1980 and 1998) and 32% (1989 and 2008) over these years.  The 21% in 2009 seems a bit out of place, but maybe because only well off people took out new mortgages during that time.

House Loan Repayment Percentages
Source: http://www.rba.gov.au/publications/bulletin/2012/dec/pdf/bu-1212-2.pdf

0 0 votes
Article Rating
Subscribe
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x