Median Property Price Changes 2010 to 2015 in Australia

Median Property Price Changes 2010 to 2015 in Australia

Australian Median Property Price Changes 2010 to 2015

Have Australian property prices really risen as fast as some headlines say?

How do property price rises compare to wage increases?

Figures from realestate.com show the changes in median property prices in Australia, between 2010 and 2015.
They show figures varying from Sydney House prices beingĀ up by 44.7% and Hobart Unit prices beingĀ down by 5.6%, over the five year period.

For comparison to wages increases I looked at figures from the ABS, and these show that the Total Wages for an Australian Adult Male, working Full time, have risen by 19.24% over the 2010-2015 period.

These 5 year changes have been re-calculated to an average Annual change, and the results are shown below.

It does show that Earnings are exceeding property price rises in most States, with the obvious exception of Sydney.

Averaged Annual Changes for Australian Median House Prices 2010-2015

7.67% Sydney from $587,500 to $850,000
4.63% Melbourne from $482,500 to $605,000
3.58% Average annual Male Full Time wage rise
2.32% Darwin from $535,000 to $600,000
1.75% Perth from $495,000 to $540,000
1.41% Canberra from $550,000 to $590,000
1.00% Adelaide from $399,500 to $420,000
0.34% Brisbane from $472,000 to $480,000
-0.50% Hobart from $359,000 to $350,000

Averaged Annual Changes for Australian Median Unit Prices 2010-2015

6.72% Sydney from $455,000 to $630,000
3.58% Average annual Male Full Time wage rise
2.28% Darwin from $420,000 to $470,000
1.56% Melbourne from $435,000 to $470,000
0.68% Adelaide from $330,500 to $342,500
0.37% Perth from $425,000 to $433,000
0.26% Brisbane from $382,900 to $388,000
-0.49% Canberra from $410,000 to $400,000
-1.15% Hobart from $285,000 to $269,000

Averaged Annual Wage Increases for an Adult Male Full Time worker between 2010 and 2015

Earnings; Males; Full Time; Adult; Total earnings ; All Industries ;
May 2010: $1,404.60 per week
May 2015: $1,674.80 per week
An average annualised rise of 3.58% per year from 2010 to 2015

Sources:

www.realestate.com.au/blog/what-lies-ahead-for-housing-prices-in-2020/
ABS 6302.0 – Average Weekly Earnings, Australia

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