Home Prices Jump 3.7%

For those who are considering moving to Australia to live , home prices in Australia’s biggest cities have jumped 3.7% since the start of the year with the proportion of settled auctions on the rise as well.

Sydney has led the charge , with prices there jumping 5.3% since January 1, according to the data from CoreLogic.

The median house price in Sydney is $950,000 while the median unit price hit $740,000.

Melbourne residential property prices have risen 4.4% since the start of this year, with the median house price at $710,000 and the unit price at $525,000.

Perth was the only capital where prices have fallen edging down 1.15.

Meanwhile , Hobart remains the cheapest market with median house prices at $365,000 and unit prices at $306,500.

CoreLogic also reported that the national auction clearance rate jumped to 77.1% in the week to March 26 , from 74.1% the previous week.

The auction rate was 70.9%in the same week in 2016.

Sydney had the highest rate last week , at 81.1%, while in Melbourne 79.9% of properties up for auction sold.

CoreLogic’s data also showed that there were 3,147 auctions last week – the second highest in the year to date, and up from 2,916 the previous week.

The number of new property listings had also jumped by 4.9% over the previous 12 months,but the toatl number of listings has slumped 4%.

So if Australia is calling you hopefully there is some useful information as to current Home prices in certain areas of Australia.

The old question looms  ” is the grass greener on the other side “.

What are your thoughts  on this subject?. Is New Zealand or Australia the best and most affordable country to live in .

www.nicolrenovationsltd.co.nzRenovation Specialists