A new property report, which will be exclusively released to brokers first, reveals the most affordable and most expensive suburbs nationally.
Broker has launched the 2015 Australian Housing Market Report (winter edition). The report, prepared by CoreLogic
RP Data and NAB
, is designed to be easily understood by everyday consumers, and presents trends in the Australian housing market.
Despite the recent slowdown, the report reveals that home values across the combined capital cities increased by 7.9% in the 12 months to April 2015.
The most affordable suburb in Australia is Jeparlt in Victoria’s Hindmarsh region, with a median house price of $85,616. This is followed by Zeehan in Tasmania’s West Coast region, which has a median house price of $89,605.
This is almost four times less than the most affordable suburb in Australia’s most heated housing state, New South Wales. According to the report, all of New South Wales’ most affordable housing resides in the Central Coast region of Wyong. The most affordable suburb in this region is San Remo, with a median house price of $327,027, followed by Gorokan, with a median house price of $340,729.
It comes as no surprise then that the top five most expensive suburbs in the country are all in New South Wales. Point Piper in Sydney’s eastern suburbs Woollahra region is at the top of the list, with a median house price of $5,517,002. This is followed by Centennial Park in Randwick, also in Sydney’s eastern suburbs, with a median house price of $5,105,639.
Broker general manager, Steve Kane
says brokers will have access to the report ahead of a broader release to mainstream and retail channels, in a move to empower brokers and further demonstrate the lender’s commitment to brokers.
“We wanted to give brokers an exclusive first look on our Housing Market Report, so they can use it as a tool and resource to start insightful conversations with their customers and add value to the home purchasing journey,” he said.
“We understand the strength of the relationships brokers have with their customers, and it’s important we support brokers with information and resources as a way of showing our commitment to the channel.”
The report provides a national housing market overview, state housing market overviews, price expectations for state and capital cities, and the five most affordable and most expensive suburbs in Australia.