REINSW Property Profile - December 2012
|REINSW Property Profile sets out a detailed analysis of data, including:|
REINSW Property Profile is available exclusively to REINSW members.
- Sydney metropolitan house and unit prices by Local Government Area (LGA) and suburb
- Regional NSW house and unit prices by LGA and suburb
- Auction statistics
- Residential rental and vacancy rate data
- Key market indicators
Download a copy REINSW Property Profile - December 2012
(File size approximately 1.3mb)
(Members will need to login to the website to access the PDF)
View past editions:
For figures prior to March 2012, please refer to REINSW PropertyFocus (now discontinued).
By Tim McKibbin - REINSW CEO
||Sydney metropolitan |
In good news for the Sydney metropolitan market, the median house price increased in December 2012. A 4.2% uplift from September 2012 brings the median house price to $594,000 for the 12 months to December 2012. This is a 6.1% increase on the median house price of $560,000 recorded a year ago.
The median unit price for Sydney metropolitan units increased in December 2012. At $477,500, the median unit price is up 3.2% over the three months to December 2012, and is 3.8% above the median unit price recorded in December 2011.
The rental vacancy rate in December 2012 for Sydney was 1.9%. This was down 0.6% from September 2012. While there was some fall back from the September quarter highs, the vacancy rate for Sydney still finished the year 0.3% higher than the 1.6% of December 2011.
A total of 5,201 auctions were recorded over the December 2012 quarter, with the clearance rate hovering between 57% and 63% over the three months. The average clearance rate for the quarter was 61%, down from an average of 62% for the September 2012 quarter. The average clearance rate for the December 2011 quarter was 56%.
Median house prices in the major regional centres increased in December 2012. Both the Wollongong and Newcastle Local Government Areas (LGA) experienced increases for the three months to December 2012, with median house prices of $450,000 and $400,000 respectively. These prices were also up on those recorded 12 months ago: 2.3% for Wollongong and 4.3% for Newcastle.
The median unit price for the Wollongong LGA for the 12 months to December 2012 was $341,211, up 1.69% since September 2012 and 1.1% over the last 12 months. The Newcastle LGA recorded a median unit price of $356,000 in December 2012, an increase of 2.0% from September 2012.
The performance of the rental market across regional NSW over the last 12 months has once again been mixed. Some regional markets continue to experience a tight rental market. However, other areas have experienced steady and sustained increases.
Sydney metropolitan - HOUSES
Sydney metropolitan - UNITS
REINSW Property Profile is a review of the property market in New South Wales and is published by the Real Estate Institute of New South Wales.
REINSW Property Profile calculates median prices on a rolling 12-month basis. This methodology ensures less volatile results than a median price calculated on sales occurring in a three-month period.
For example, the median price for December 2012 is the median price of sales that occurred in the 12 months ending 31 December 2012. The quarterly comparison of the December 2012 median price to the September 2012 median price compares the median price of all sales that occurred in the 12 months ending 31 December 2012 to the median price of all sales that occurred in the 12 months ending 30 September 2012.
REINSW Property Profile is compiled from property sales information provided under licence from the NSW Land & Property Information (a division of the Department of Finance & Services), combined with additional sales information and property attribute data sourced from REINSW, realestateVIEW.com.au and propertyDATA.com.au. REINSW is authorised as a Property Sales Information provider by NSW Land & Property Information (a division of the Department of Finance & Services).