Feb 25, 2019
Most Aussie Households Are Well Ahead With Their Property Values.
Most property owners in Sydney have made big capital gains,
despite recent declines in some (but not all) areas. Because most
people live in the same place for lengthy periods they have
benefited from the five years of capital gains that preceded the
recent (and relatively small) decreases in values.
In particular those who have bought and held over the past two decades remain very big winners.
In the 20 years to January 2019, the Home Value Index shows Melbourne recorded the greatest value gains over the period (275%), followed by Hobart (237%), Canberra (231%), and then Sydney (202%). Darwin had the slowest growth, with gains of 38% and regional NSW had the best regional growth over the past 20 years, up 186%, while regional Victoria values improved 180%.
Most people understand that correction periods always follow prolonged booms.
In the final analysis, most Aussies own their homes and are ahead.