Australian House Prices Jan. 2015 Source: Daily Telegraph http://ow.ly/GJgBw Courtesy LJ Gilland Real Estate

US House Prices Trending Up in November

Home price rises might be slowing, but if you’re looking for a place in Sydney it’s going to cost you a median price of three-quarters of a million dollars.

Capital city home values were up 0.9 per cent in December, and were up 7.9 per cent in 2014, according to the CoreLogic RP Data home value index.

Sydney led the way with prices up by a whopping 12.4 per cent in the year, but were flat in December.  That was closely followed by Melbourne, with an 11.3 per cent gain for the year and were up 1.6 per cent in December.

Sydney was the most expensive city to buy a home, with a median price of $730,000, almost double the $341,500 recorded in Hobart.

RP Data senior research analyst Cameron Kusher said despite the strong result the pace of home price growth continues to slow.

“The slowing annual growth rate is further evidence that the housing market is losing some steam with combined capital city home values increasing by 9.8 per cent over the 2013 calendar year compared to a more moderate 7.9 per cent increase in 2014,” he said.

“Auction clearance rates reduced noticeably across the two largest auction markets, Sydney and Melbourne, over the final two months of the year.”

CommSec chief economist Craig James said the housing market is cooling because there are more homes being built.

“As a result, home prices are growing at a slower rate. In fact annual growth of home prices stands at a 14-month low,” he said.

“The growth rate of home prices is easing to more sustainable levels, not a boom and not a bust.”

Mr Kusher said while home values are still rising, rental growth is sitting at its lowest annual rate over a decade, with capital city rents rising by 1.8 per cent over the past 12 months and he expects it to stay sluggish in 2015.

“Affordability hurdles in Sydney, and to a lesser extent in Melbourne, are making it increasingly difficult for some buyers to enter the market,” he said.

“Additionally, low rental yields and the likelihood of tougher lending criteria to investment buyers will likely dampen the very active investor segment of the market which may in turn reduce housing demand in 2015.” Source RP Data via http://www.ljgrealestate.com.au with kind regards.

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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