April 30, 2024
Portion of Suburbs Recording Annual Rise in Values
Prices Rising in 88.4% of suburbs
Despite the rise in inflation and interest rates over the past two years, “nearly all borrowers continue to service their debts on schedule”, according to the latest Financial Stability Review from the Reserve Bank of Australia (RBA).
“Households with lower incomes, including many renters, have felt these budget pressures acutely,” the RBA said.
“Most mortgagors have experienced an increase in their minimum scheduled payments of 30–60% since the first increase in the cash rate in May 2022. Sharply higher housing costs (for borrowers and renters) and broad-based cost-of-living pressures have weighed heavily on the budgets of many households and contributed to very weak consumer sentiment.”
The table lists the number of suburbs analysed, the quarterly rise in number of suburbs and percentage, and the annual rise in number of suburbs and percentage.
Here are some of the key takeaways from the image:
Sydney has the highest annual rise in number of suburbs (551) at 98.6%.
Brisbane has the highest annual rise in percentage (100%).
Regionally, Perth and Adelaide have the highest annual rise in percentage (99.7%).
Now the question is, everything is rising, but what suburb has rose at what %.
Remember: Not any suburb is good to invest and not every good suburb is also good to invest if they have reached to the peak of the cycle.
Published on: 30st April, 2024
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