According to Terry Ryder , Brisbane has now joined the ranks of the moving cities
Brisbane is beginning to join the capital city growth trend. The latest edition of the House Price Indexes from the Australian Bureau of Statistics shows that Brisbane?s index grew 1.2% in the September Quarter, for annual growth of 4.1%.
This is the first strong indication that Brisbane is following the upward trend started by Darwin and Perth, and advanced by Sydney and Melbourne.
Sydney is now the growth leader among the capital cities, with a 3.6% increase in the September Quarter and annual growth of 11.4%.
Perth ranks second, with annual growth of 8.6%, followed by Melbourne?s 6.8% and Darwin?s 6.0%. The weighted average across the eight state and territory capitals is an annual rise of 7.6%, following an average rise of 1.9% in the quarter.
The cities lagging the national trend, with annual growth of 1% or less, are Canberra, Adelaide and Hobart. Adelaide and Canberra were the only cities to record a decrease in their House Price Indexes in the September Quarter.
Given that some media is reporting the current rise in city markets as a major boom, indeed a ?bubble?, let?s put it in perspective. In 2010, the peak of the last up-cycle, all eight capital cities had double-digit annual growth, including two cities with annual growth above 20%.
The current average of 7.6% is moderate by comparison. I believe it is the beginning of a sustained growth market, with more substantial growth in 2014.
Cliff
Brisbane is beginning to join the capital city growth trend. The latest edition of the House Price Indexes from the Australian Bureau of Statistics shows that Brisbane?s index grew 1.2% in the September Quarter, for annual growth of 4.1%.
This is the first strong indication that Brisbane is following the upward trend started by Darwin and Perth, and advanced by Sydney and Melbourne.
Sydney is now the growth leader among the capital cities, with a 3.6% increase in the September Quarter and annual growth of 11.4%.
Perth ranks second, with annual growth of 8.6%, followed by Melbourne?s 6.8% and Darwin?s 6.0%. The weighted average across the eight state and territory capitals is an annual rise of 7.6%, following an average rise of 1.9% in the quarter.
The cities lagging the national trend, with annual growth of 1% or less, are Canberra, Adelaide and Hobart. Adelaide and Canberra were the only cities to record a decrease in their House Price Indexes in the September Quarter.
Given that some media is reporting the current rise in city markets as a major boom, indeed a ?bubble?, let?s put it in perspective. In 2010, the peak of the last up-cycle, all eight capital cities had double-digit annual growth, including two cities with annual growth above 20%.
The current average of 7.6% is moderate by comparison. I believe it is the beginning of a sustained growth market, with more substantial growth in 2014.
Cliff