Via Cameron Kusher at CoreLogic:
Headline capital city value change figures only tell part of the story, more detailed insights can be seen by observing changes in dwelling values across smaller geographies. In this week’s blog we look at value changes across the SA4 regions of the capital cities, noting that Hobart, Darwin and Canberra do not have any SA4 regions that are smaller than the whole capital city areas.
The above chart shows the monthly, quarterly, annual and 5 year annual changes in values across the SA4 regions of Sydney to February 2018. Immediately noticeable from the chart is the fact that conditions over the past 12 months have been dramatically different to those over the past five years in which the weakest performing region, Sutherland, recorded compound annual growth of 8.7% while the strongest market for value growth, Outer South West, has seen values rise at 11.5% annually. Over the 12 months to February 2018, only six of the 15 SA4 regions have recorded increases in values and they have been mixed with regards to their locations however, generally they have been outer markets. Over the three months to February 2018, values have fallen across all SA4 regions with the largest declines recorded in the Ryde and Baulkham Hills (both 4.0%) regions while the most moderate declines have occurred in the Outer South West (-0.7%), Outer West and Blue Mountains (-0.8%) and Central Coast (-0.8%).
