This article is for general information purposes and not financial advice or a recommendation to take any action. 

Ten Years of House Price Growth

When it comes to real estate, the devil is in the detail. The numbers might be easy to find - but turning them into meaningful insights is where the real challenge lies.

Australia’s property market has seen remarkable price growth over the past decade - but how has that played out in your region? And more importantly, what should you be watching over the next 10 years?

Percentage growth gives us a useful snapshot of how property prices have moved, but to truly understand the market, it’s important to look at the underlying drivers in each region.

A high-level view of the data highlights some striking trends over the past decade:

• Regional areas on the East Coast have often outpaced capital cities, with Tasmania, New South Wales, and Victoria all growing more than 85%, driven by the rise of remote working.

• Previously more affordable capitals like Brisbane and Adelaide have boomed, with investor capital chasing value.

• Areas that have previously had an industry driven boom like Perth (general mining boom) and Darwin (Ichthys gas project) have lagged.

• Areas that successfully added lots of new housing like Melbourne (which underperformed Victoria) had more modest growth with supply largely keeping up with demand.

Same Data, Different Story

Looking at percentage growth can help paint a picture, but it doesn’t always tell the full story.

Some regions started from much lower base values, meaning big percentage jumps might still translate to relatively modest dollar gains.

Looking at dollar growth paints a different picture over the same 10 year period: 

• Sydney added a staggering $603k to median house prices (76% growth) driven by tight supply and limited land availability, strong immigration, and wage and wealth concentration. 

• Brisbane  & Adelaide performed strongly in both percentage and dollar terms, boosted by infrastructure investment and relative affordability. 

• Canberra ranked fourth in dollar growth ($446k), supported by strong and stable public sector employment, high average incomes and powerful long term growth fundamentals despite     recording only 65% growth. 

• Many regional  areas, while strong in percentage terms, remain at the lower end in dollar terms (making up 4 of the bottom 5) due to lower starting values.

Looking Ahead

The next decade of property prices will be shaped by a mix of economic, demographic, and policy factors. Key things to watch include:

• Real wage trends and their effect on borrowing power in each region.
• Population growth and migration patterns.
• New housing supply - both policy-driven and market-led.
• The balance between long-term industry growth (e.g. renewable energy, tech hubs) and short-term shocks (e.g. COVID-driven relocations).
• The rise of AI in identifying trends and opportunities within the housing market.

How can Earnr help?

At Earnr, we use our institutional expertise to help Australians navigate an ever-changing financial landscape.

We simplify complex data and have built accounts designed to help people achieve their financial goals, whether that's saving for a first deposit, or working towards the purchase of an investment property.

Earnr products:

• Provide stable, predictable cash flow
• Offer great rates which often match those received from higher risk equity investments
• Reduce portfolio volatility‍ ‍
• Preserve capital while still earning defined yields.

If you want to know more about how our accounts work - book a meeting with an Earnr Account Specialist here.

The information in this article is intended to be factual though may also contain the opinion of the author. Whilst every effort has been made to ensure accuracy, we take no responsibility for any errors or omissions. Any opinions are those of the author alone and not a recommendation to take any action or obtain any product. You should consider whether this information is appropriate for you and obtain independent advice before making any decisions.

‍