Money This map shows house price growth in Australia is only happening in one area

01:51  14 september  2017
01:51  14 september  2017 Source:   Business Insider Australia

Wage growth will play a major role in determining where Australia's economy heads next

  Wage growth will play a major role in determining where Australia's economy heads next Something strange is happening in Australia this year. On one hand business confidence is soaring, hitting a pre-GFC high recently, according to the National Australia Bank's (NAB) monthly business survey.

Australian house prices have grown rapidly over the past year, continuing the trend since the end of the Based on SA4 regional data, breaking states down into large regional areas , prices in many The map provides an excellent reminder that Australia ’s housing market is not one market, but

Australian house prices have grown rapidly over the past year, continuing the trend since the end of the global financial crisis. Indeed, it was entirely driven by strength in Australia 's southeastern corner, especially in Sydney and Melbourne, Australia 's largest housing markets. Based on.

  This map shows house price growth in Australia is only happening in one area © Provided by Business Insider Inc

Australian house prices have grown rapidly over the past year, continuing the trend since the end of the global financial crisis.

Across the nation's capitals, prices jumped by 10.7% in the year to August, according to data from CoreLogic, leaving the median price at $567,000.

However, as seen in the map below posted by CoreLogic's head of research, Tim Lawless, on Twitter, that national figure was not reflective of board-based gains across the nation.

Indeed, it was entirely driven by strength in Australia's southeastern corner, especially in Sydney and Melbourne, Australia's largest housing markets.

Here's another sign Australia's housing market is slowing down

  Here's another sign Australia's housing market is slowing down Hot on the heels of a sharp deceleration in price growth in the last three months, we've just received another indicator showing Australia's housing market is slowing down. According data released by CoreLogic today, clearance rates just hit the lowest level seen this year.At 66.4%, the final figure for last week was the weakest since mid-2016, driven by declines in Sydney and Melbourne, the largest auction markets in the country.© Provided by Business Insider Inc"Melbourne’s final auction clearance rate fell last week, with 71.3% of auctions clearing.

Site Map . “There will be lots of opportunities for developers to build in fringe areas .” Australia ’s First Lady and Chief Commissioner of the Greater Sydney The Gold Coast is expected to outperform everyone in 2017 with house price growth well into the double digits.Source:News Corp Australia .

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Based on SA4 regional data, breaking states down into large regional areas, prices in many regions within and surrounding Sydney and Melbourne grew by 10% or more over the year, masking falls or significantly smaller gains in other parts of the country.

This divergence reflects stronger economic conditions in both Sydney and Melbourne over the year, partially contributing to strong population growth in both cities over the same period.

The map provides an excellent reminder that Australia's housing market is not one market, but many, with the strength in the national figure over the past year merely reflecting strong gains in small-yet-highly-populated parts of the country.

It also underscores the conundrum facing policymakers who are currently attempting to cool strong price growth in Australia's southeastern corner without exacerbating price weakness in other parts of the county.


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Source: http://au.pressfrom.com/news/money/-38960-this-map-shows-house-price-growth-in-australia-is-only-happening-in-one-area/

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