An analysis of Australian dwelling values has highlighted the strong growth Australia’s property market has achieved in the past 16 years, with dwelling values increasing at an average rate of 8 per cent per annum.
RP Data found that in the 16 years since 1993, value growth of Australian dwellings has varied, but there were 12 occasions when dwellings recorded growth of at least 5%.
In some instances, dwelling values increased by as much as 18, while the year to March 2009 recorded the largest decline – just 0.6%.
The median national dwelling value now sits at $458,908, compared to $134,544 in March 1993.
Taking inflation into consideration, RP Data research analyst Cameron Kusher, said property values had in fact increased by 12 per cent per annum – or 198 per cent.
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