This compares favourably to Sydney and Melbourne where median house prices increased roughly 3.5 times over that period.
But Hobart house owners saw the greatest gain with median house price values increasing 6 fold over the past 20 years.
The analysis comes from Property Investment Professionals of Australia (PIPA) board member and University of Adelaide property academic, Peter Koulizos, and was reported in the Australian Property Investor magazine.
It highlights the value of property as a long term investment asset and reinforces the old saying that it’s ‘time in market’ not ‘timing of the market’ that makes a difference over the long run.
Check out the median house price change for Australia’s capital cities over the past 20 years:
- Hobart values increased 5.90 times
- Adelaide 4.10
- Canberra 4.08
- Brisbane 4.05
- Melbourne 3.49
- Sydney 3.48
- Darwin 3.16
- Perth 3.05
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