2019 will go down as the year when new records were set.
For 2020, we’re likely to see markets in recovery mode as housing prices catch up and then overtake their previous record highs, however we expect the rapid rate of capital gains seen over the second half of 2019 to lose steam as stock levels rise and affordability deteriorates.
In 2019 the housing market moved through the largest and longest correction on record, followed by a fast-paced rebound in values through the second half of the year.
Housing turnover fell to record lows in 2019, as did new advertised stock levels.
Interest rates reduced to levels previously unseen, while the concentration of investors in the market also plumbed to new depths.
National top performing regions 2019
Here’s the Best of the Best 2019 highlights the top 10 regions (house & unit) nationally & across each of the capital cities based on the below criteria:
All data highlighted is current to November 2019 (Total value of sales to September 2019).
Highest median value
Lowest median value
Lowest median value within 10km of a capital city
Greatest 12-month change
Greatest 5-year change
Adelaide’s top performing regions 2019
Perth’s top performing regions 2019
Hobart’s top performing regions 2019
Canberra’s top performing regions 2019
Read more: propertyupdate.com.au