Australian House Values

Since the mid 1990s, the average house value in Australia has risen by 180 per cent, compared with an increase of a little over 30 per cent in the Consumer price index.

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This real increase in real estate prices can be seen in the orange line in the chart below.

You can see that the rise in real estate price s has been much faster than that in construction costs, so the implication is that most of the increase in average house value has been due to increases in the price of land.

Researching average house value in Australia by city

The following chart gives report on changes in average house value in cities in Australia since the December quarter 1995 till 2007.

Australian average house value city and country areas comparison

Below is chart comparing the nominal rise in prices comparing city or suburban areas compared to country areas.

Researching international real estate prices

The increase in real estate prices in Australia since the mid 1990s, while very large, has been part of a broad trend evident in most other developed economies.

This suggests that the main forces that have underpinned this rise have been global in nature, rather than country-specific.

Below chart shows that Australia has not been alone in experiencing this rapid rise in real estate prices. With very few exceptions, most developed countries have experienced a doubling or trebling of real estate prices since the mid 1990s.