30 things to know about the Melbourne, Sydney and Brisbane property markets

A quick 4 minute read.

Here’s what going on in the 3 biggest Australian property markets at present:

10 things you should know about the Melbourne Property Market:

1. Sales volumes continue to rise. 
2. Both house and attached dwellings values are rising. The median house sale value is $770,000 and the median attached dwelling sale value is $564,000.
3. House values rose 8.8% over last 12 months. Attached values rose by 5.3%.
4. The number of houses listed for sale is falling; steady for attached stock.
5. Resale dwelling supply is falling, dropping to about a four month supply for houses and around three months for attached dwellings.
6. The rental vacancy rate continues to fall. It is now under 2%.
7. Weekly rents continue to grow. The median weekly house rent is $515 and $400 per week for attached dwellings.
8. Rents lifted by 2.7% for houses and 5.3% for attached stock over last year.
9. Gross rental yields are now 3.3% and 3.5% respectively.
10. Housing to buy is increasingly expensive, with a 6.7 dwelling price to household income ratio. Tenants are paying 23% of their income in rent.

10 things you should know about the Sydney Property Market:

1. Sales volumes are now falling.
2. Both house and attached dwellings values are rising. The median house sale value is $1,134,000 and the median attached dwelling sale value is $720,000.
3. House values rose 12% over the last 12 months. Attached values rose by 8.6%. (Based on a data source we can trust). 
   
4. The number of houses listed for sale is falling; rising a bit for attached stock.
5. Resale dwelling supply remains very tight, with under a three month supply on the market.
6. As does the rental vacancy rate, which is still under 2%.
7. Weekly rents continue to grow. The median weekly house rent is $720 and $530 per week for attached dwellings.
8. Rents lifted by 4.3% for houses and 1.9% for attached stock over last year.
9. Gross rental yields are low and falling, being 3.2% and 3.7% respectively.
10. Housing to buy is increasingly expensive, with an 8.6 dwelling price to household income ratio. Tenants are paying 28% of their income in rent.

10 things you should know about the Brisbane Property Market:

1. Strong lift in house sales. Attached dwelling sales now falling.
2. House values are still rising, with attached values now falling. The median house sale value is $513,000 and the median attached dwelling sale value is $399,000
3. House values rose just 2.6% over last year. Attached values fell by 0.3%.
4. The number of houses listed for sale is steady; whilst rising for attached stock.
5. Resale dwelling supply has fallen for houses but is rising now for attached dwellings. They both average about a six month supply at present.
6. The rental vacancy rate is rising. It is now over 3%.
7. The median weekly house rent is $420 and $370 for attached dwellings.
8. Rental growth is very low – often showing little to no change on an annual basis.
9. Gross rental yields are now 4.1% for houses and 4.8% for attached dwellings.
10. Housing is quite affordable to buy, with a 4.5 dwelling price to household income ratio. Tenants are paying just 19% of their income in rent.