CoreLogic Property Prices Double Every Decade
Property prices double every decade?
By Cameron Kusher | 15th February 2016
It is often commented that in Australia property values double every 10 (some say 7) years. This week we look at whether this has been the case over the past 10 years across the capital cities.
Most people who are interested in residential property would have heard of the notion that property values double each decade. This week we are looking at whether or not that has been true over the past 10 years.
Over the 10 years to January 2016, home values across the combined capital cities have increased by a total of 72.0% which is well short of values doubling over the decade. If we look at the split between houses and units, house values are 73.1% higher compared to a 64.3% increase in unit values.
Although combined capital city home values haven't doubled over the past decade, the previous decade was quite a different story. Between January 1996 and January 2006 combined capital city home values increased by 151.7% with house values up 159.6% and unit values 110.1% higher. Based on this data, the most recent decade of capital city home value growth has been half that of the previous decade.
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