How Did the Housing Market Perform Over the Financial Year?
Over the last financial year, combined capital city dwelling values increased by 9.6% which was actually greater than the 8.3% rise over the 2015-16 financial year. Combined capital city dwelling values have now increased over five successive financial years however, prior to these increases there were successive financial years in which values fell (-1.4% in 2010-11 and -3.6% in 2011-12). Across the individual capital cities the growth story over recent financial years has been vastly different.
The 2.4% rise in values over the past year eclipsed the 2.1% increase the previous year and marked the fifth consecutive financial year in which values increased.