Alphabroker Mentoring Melbourne Blog - Back in Time

The time was 1968….

Imagine going back in time? To 1968, when the median house price in Sydney was a mere $13,000 and the latest Ford Falcon cost $2,200

In Melbourne, the median house price in 1968 was $10,500 and the average annual wage $3,812

In Adelaide, the median house price was $12,000 in 1968 and in Perth it was $12,371 (source: HTW August 2018).

No matter where you live in Australia, the housing landscape has changed dramatically over the past 50 years and Herron Todd White have analysed this in-depth in their August 2018 Month-In-Review Report www.htw.com.au

13 things I found most fascinating about the last 50 years

  1.  Australian housing prices have surged by a massive 6,556% since the early 1960s, an average increase of 8.1% every year (source: ABC News)
  2.  Compared to other advanced economies in the past 50 years, Australia had the sixth highest rise, next to Spain, UK, New Zealand, Italy and Ireland (source: ABC News)
  3.  In the 1989/1990 Recession when Australian Home Loan interest rates hit 17.00% pa, the median house price in Sydney was $194,000, Melbourne $131,000 and Brisbane$113,000
  4.  During the same recession, when unemployment peaked at 10.8%, the average Australian wage was $27-28,000 pa (source: ABS.gov.au)
  5.  As we entered the new millennium, the median house price in Sydney had increased almost 50% to $287,000 and Melbourne by 45% to $191,000.
  6.  Just 3 years later, the Sydney median house price had increased another 58% to $454,250 and Melbourne by 45% to $276,000. Home Loan Interest rates by then were down to 6.55%
  7.  In June 2018 the median house price in Sydney was $1.12 million and Melbourne was $870,000
  8.  In June 2018 the median house prices in Adelaide, Perth and Brisbane were $510,000, $520,000 and $550,000 respectively (source: Domain)
  9.  Today the Sydney property market is declining
  10.  Perth and Darwin are at the bottom of the market
  11.  Adelaide and Brisbane markets are rising
  12.  Hobart is approaching the Peak of the Market
  13.  Melbourne is at the Peak of the property market

To read the full Report either go to www.mentorvision.com.au/Trending OR subscribe for free by jumping onto the HTW website, www.htw.com.au

Posted in HTW.

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