Named after the 16th Governor-General of Australia, Lord Casey, the municipality came into existence as a result of the merger between some parts of the City of Berwick, Shire of Cranbourne and the City of Knox. Being the most populous city in Victoria, Casey City has a thriving real estate market with a big demand for houses to both own and rent as well as a somewhat smaller demand for units.
A decade of economic boom encouraged businesses in the metropolis to expand, hiring staff from outside the city as the local workforce was fully employed, causing the real estate market to experience property shortages and rising prices. Developers, encouraged by house price predictions, invested heavily in new housing projects. However, as the economy cooled, expected median prices became unaffordable. While there is still population growth and demand for housing in the area, the double-digit growth in prices expected by majority of developers have proven to be unsustainable and now prices are falling. However, there is still capital growth available in Greater Sydney for those who can spot the best suburbs to invest…
Ballarat is the largest city of the Central Highlands of Victoria and is the third largest inland city in Australia. Ballarat first came to prominence as a gold boom town in the 1850s and the wealth of the mining industry is reflected in the fine historic buildings in the city centre. At a distance of around 120 km from the centre of Melbourne, Ballarat offers commuters a cheaper alternative to big city living. The average house sales price here is just shy of A$474,000, which compares to an average of A$1,153,000 in Mooney Valley City, A$982,000 in Marybyrnong City, and A$1,473,000 in the Melbourne City LGA. The city is also a centre of commerce in its own right, offering plenty of local employment opportunities. This economic duality means that the local housing market has always been successful…
We have segmented the City of Brisbane LGA into five sectors: Inner, Southern, Northern, Eastern, and Western Brisbane. This report covers the Inner Brisbane area. Overall, house prices fell in the last quarter in the City of Brisbane by 1.27 percent. Looking at the Inner Brisbane sector, the sales market for houses was very close to the average price performance for the City as a whole because it experienced a price fall of 1.3 percent. House prices fell in all sectors of the City with Southern Brisbane experiencing the largest average price drop of 2.96 percent. Western Brisbane had the smallest price fall, which was 0.03 percent. Northern Brisbane experienced a price drop of 1.45 percent and Eastern Brisbane saw the average price at sale for houses fall by 0.6 percent.
Inner Brisbane has the highest average house prices within the City. That figure is A$1.14 million, compared to A$636,00 in Southern Brisbane. The other areas of the City have median house prices that are A$704,000 in Northern Brisbane, A$796,000 in Western Brisbane, and A$807,000 in Eastern Brisbane. House sales volumes fell dramatically at the beginning of 2019 and have stayed low since then….
The local government area (LGA) of Campbelltown is in the urban area of Sydney. The LGA is inland from the centre of the state capitol in an area called Greater Western Sydney. Then average price of property here is $624K, which is the lowest median price of all of the LGAs in the Greater Sydney region. The low prices found in Campbelltown make it the most accessible property market in the region. The property market in Sydney rose rapidly over the last decade and overheated. Now, the region is going through a correction, with every LGA in Greater Sydney showing price falls in the last quarter, except for the internationally renowned districts at the centre of the metropolis.
The local government area (LGA) of Mornington Peninsula Shire juts out between Port Philip Bay and Western Port Bay to the south of Melbourne. The environment ranges from the commuter towns of Mornington and Mount Eliza, to country locations such as Red Hill and the vacation spots of Dromana and Tootgarook. This is a desirable location filled with high-value homes. The property market in Melbourne hasn’t been doing very well recently and the gravitational pull of the state’s capital has dragged nearby property markets down, too. Only LGAs away from Melbourne, such as Greater Geelong City, Surf Coast Shire, Bass Coast Shire, and South Gippsland Shire have managed to experience property price rises.
The local government area (LGA) of Moreton Bay occupies an enviable position between Brisbane City to the south and the Sunshine Coast to the north. The LGA includes the facilities of its major towns—Burpengary, Morayfield, and Caboolture – along with rolling countryside and accessible beaches. Areas like Moreton Bay, to the north of Brisbane offer a stable place for property investment.
As can be seen in the map below, areas to the north of Brisbane are faring better in the current property market for houses than the LGAs to the south of Queensland’s capitol.
The local government area (LGA) of the Shire of Hornsby lies on the northern edge of Sydney’s urban area. Property values in the LGA are very closely tied to the economic success of the county’s largest city. After experiencing very strong price growth, the Sydney property boom is going through a period of correction. As can be seen in the map below, Sydney’s urban area has started to experience price falls. The attractiveness of property in the Shire of Hornsby has been reduced by the market price correction. It has been one of the worst hit LGAs in the region.
The Central Coast Council area lies between the urbanisations of Sydney and Newcastle and is commutable to both cities. The proximity to major commercial centres, good work prospects, and attractive costal communities makes this local government area one of the most expensive for housing in the country. As can be seen in the map below, property in the urban area of Sydney has been falling in value recently. By a ripple effect, the Central Coast has also seen falls, but to a lesser extent than areas closer to the centre of Sydney.
The City of Lake Macquarie is within the Greater Newcastle Area, being adjacent to the City of Newcastle local government area (LGA). At a distance of 150 km, Sydney is easy to reach from Lake Macquarie. However, the housing market of the LGA isn’t treated as part of Sydney’s commuter belt and is more influenced by economic developments in Newcastle. As the map below shows, Lake Macquarie property performance has not been dragged down by the downturn in the Sydney urban area, where a correction from previous overheating has seen negative growth.