{"id":5475,"date":"2024-08-29T09:07:49","date_gmt":"2024-08-28T23:07:49","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5475"},"modified":"2024-08-29T09:07:49","modified_gmt":"2024-08-28T23:07:49","slug":"how-much-has-your-homes-value-risen-by","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/how-much-has-your-homes-value-risen-by\/","title":{"rendered":"How much has your home\u2019s value risen by?"},"content":{"rendered":"

\"\"We\u2019ve all heard the rule of thumb about property being a long-term investment. Well, get this: many home owners have seen the value of their property quintuple within the timeframe of a typical 30-year mortgage.<\/strong><\/p>\n

Ask any long-term home owner what they originally paid for their property, and chances are they\u2019ll respond with an eye-wateringly low figure.<\/p>\n

Plenty of Australians look back on the price they paid for their home and marvel at how low it seems relative to current values \u2013 often while breathing a sigh of relief that they bought when they did.<\/p>\n

This is not a recent trend.<\/p>\n

Property has a strong track record for growth<\/h3>\n

Fun fact: over the\u00a0last 100 years<\/a>, residential property values in Australia have risen by an average of 10.9% annually.<\/p>\n

Sure, there can be short term dips and periods when values plateau, but the\u00a0broader trend has been upwards<\/a>.<\/p>\n

In dollar terms, this price growth can be mind-boggling.<\/p>\n

Take Sydney, for instance, where the median house price back in\u00a0mid-1992 was $221,770<\/a>. Thirty years later, in 2022, the median value was $1,124,421.\u00a0Today, it is $1,473,038<\/a>.<\/p>\n

It\u2019s a similar story across all our major cities.<\/p>\n

But what if you purchased more recently? What sort of increase in value has your home seen?<\/p>\n

How much have home values increased since you purchased?<\/h3>\n

CoreLogic\u00a0delved into the history books<\/a>\u00a0to see how national property values have risen since the year of purchase, starting with the mid-90s.<\/p>\n

Looking at the results below, it\u2019s pretty clear that the longer you\u2019ve owned your home (or investment property), the bigger the potential rise in value.<\/p>\n

Buyers who purchased about 30 years ago in 1995 could find their property is now worth more than five times what they originally paid thanks to a 437% increase in value.<\/p>\n

If you purchased about 20 years ago back in 2005, your home may have jumped in value by 148% (2.5 times more than you bought it for).<\/p>\n

Closer to the present, homes purchased in 2020 may have seen a 34% rise in value.<\/p>\n

And even if you purchased your home last year, you may have already notched up capital growth of 4%.<\/p>\n

Increase in national home values since year of purchase<\/h3>\n

1995:<\/strong>\u00a0437%
\n2000:<\/strong>\u00a0308%
\n2005:<\/strong>\u00a0148%
\n2010:<\/strong>\u00a094%
\n2015:<\/strong>\u00a057%
\n2020:<\/strong>\u00a034%
\n2023:<\/strong>\u00a04%<\/p>\n

Source:\u00a0CoreLogic article<\/a>. Direct link to\u00a0graph here<\/a>.<\/p>\n

Why a rise in your home\u2019s value matters<\/h3>\n

A rise in your home\u2019s value is worth much more than bragging rights at your next barbecue.<\/p>\n

Increasing property values are a key source of\u00a0household wealth<\/a>\u00a0in Australia.<\/p>\n

Better still, a rise in your home\u2019s value can make it easier to refinance to a more competitively-priced home loan, or provide the equity to invest in a rental property or achieve other personal goals such as funding your kids\u2019 education.<\/p>\n

Talk to us to start your property journey<\/h3>\n

The upshot is that when you buy a home \u2013 either as a first home buyer or upgrader \u2013 it\u2019s worth keeping one eye on the future.<\/p>\n

With the passage of time, the price you paid today can start to look like a better deal than it felt at the time, and you could be grateful you purchased when you did.<\/p>\n

Call us today to find the home loan that helps you get started on your property journey, or to unlock equity in your current property.<\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019ve all heard the rule of thumb about property being a long-term investment. Well, get this: many home owners have seen the value of their property quintuple within the timeframe of a typical 30-year mortgage. Ask any long-term home owner what they originally paid for their property, and chances are they\u2019ll respond with an eye-wateringly […]<\/p>\n","protected":false},"author":23,"featured_media":5476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-5475","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home-loans","8":"entry"},"yoast_head":"\nHow much has your home\u2019s value risen by? · FinancialPlus Mortgage Broker Gold Coast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financialplus.com.au\/how-much-has-your-homes-value-risen-by\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How much has your home\u2019s value risen by? · FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"og:description\" content=\"We\u2019ve all heard the rule of thumb about property being a long-term investment. 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