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Sydney property has recorded the highest capital growth over the past year, although Darwin has posted the highest 10-year average.
New Residex data found that Australian houses recorded an average capital growth of 7.09 per cent in 2013/2014 and an average annual rate of 4.68 per cent over the decade.
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Sydney’s capital growth was 15.37 per cent in the last financial year and 3.91 per cent per annum during the previous 10 financial years.
Darwin was the only capital to go backwards in 2013/2014, with capital growth declining by 1.10 per cent. However, it had the best 10-year result at 8.63 per cent.
Melbourne grew 8.32 per cent over the year and at 6.25 per cent over the decade, while Brisbane recorded 6.49 per cent over the year and at 3.96 per cent over the decade.
Perth posted an annual result of 5.06 per cent and a 10-year result of 6.50 per cent, while Hobart delivered 4.75 per cent and 3.53 per cent, respectively.
Adelaide added 4.08 per cent over the year and an average of 4.59 per cent over the decade, while ACT grew 0.29 per cent over the year and at 4.18 per cent over the decade.
Residex founder John Edwards said that despite high capital growth in 2013/2014, the data indicates that housing markets are cooling.
“The trend suggests that the rate of growth is moderating, and while this will not be uniform across Australia, it is the more likely outcome in the Sydney and Melbourne markets where the highest growth rates have been achieved,” he said.
