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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the latest in property, including CoreLogic’s latest findings, which suggest national home values have increased at the fastest pace in over 30 years, and why he isn’t quite sure this is the case.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about soaring travel stocks, the rising popularity of NFTs and what they are, as well as the sudden meltdown of Archegos Capital Management.

And lastly, tax and super guru Timothy Munro gives his thoughts on Paul Keating’s early release of super verdict, as well as an overview of life after JobKeeper.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Australia’s residential dwellings now valued at $7,724.4bn

By Bianca Dabu

March 18 2021
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Invest

Australia’s residential dwellings now valued at $7,724.4bn

By Bianca Dabu
March 18 2021

The total value of Australian residential dwellings saw its strongest rise in four years, according to new figures from the Australian Bureau of Statistics (ABS).

Australia’s residential dwellings now valued at $7,724.4bn

By Bianca Dabu

March 18 2021
Share

The total value of Australian residential dwellings saw its strongest rise in four years, according to new figures from the Australian Bureau of Statistics (ABS).

The latest figures show that the total value of all 10.6 million residential dwellings in Australia rose by $257.9 billion over the December 2020 quarter to $7,724.4 billion.

This is the strongest rise in total value since the December 2016 quarter, which brings the mean price of residential dwellings in Australia to $728,500.

To date, NSW has the highest mean price for residential dwellings at $939,700, followed by Victoria ($785,000) and the ACT ($757,000). The most affordable state/territory is the Northern Territory, with a mean price of $429,400.

Across the eight capital cities, residential property prices rose by 3.0 per cent over the quarter – the strongest quarterly growth since the December 2019 quarter.

All capital cities recorded a quarterly rise in residential property prices, with Melbourne and Canberra leading the charge at 3.4 per cent. This was followed by Hobart with 3.1 per cent and Sydney with 3.0 per cent.

Meanwhile, Perth saw a 2.9 per cent increase in residential property prices, followed by Brisbane with 2.7 per cent, Adelaide with 2.6 per cent and Darwin with 2.2 per cent.

“The rise in property prices is consistent with a range of housing market indicators,” according to ABS head of prices statistics Michelle Marquardt.

“New lending commitments to households, auction clearance rates and days on market all improved during the December quarter.”

Annually, from the December 2019 quarter to the December 2020 quarter, residential property prices rose by a weighted average of 3.6 per cent across the eight capital cities.

According to Ms Marquadt, this is the first time that all capital cities have seen an annual increase since the December 2014 quarter.

Hobart saw the highest annual rise at 6.4 per cent, followed by Canberra with 5.2 per cent, Perth with 4.2 per cent and Brisbane with 4.0 per cent.

Adelaide followed with 3.8 per cent, then Sydney with 3.7 per cent, Melbourne with 2.9 per cent and Darwin with 2.3 per cent.

Ms Marquadt noted that over the year, the number of residential property sales also increased in all capitals apart from Melbourne and Hobart, with the strongest increases seen in Perth, Canberra, Sydney and Brisbane.

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