A new report has found that 43 per cent of all Australian homes are now worth more than twice the original purchase price. However, not all Australian property owners have fared so well.
According to RP Data's latest Equity Report, capital city home values have increased by a43 per cent of homes are worth more than double the original price, but not all fared so wellpproximately 28 per cent in the last five years, despite the recent property price reductions, including a 3.3 per cent dip in home values over the last 12 months.
The report has revealed that the number of properties that are now worth less than their purchase price has risen to 5 per cent - up from 3.7 per cent at the end of the last quarter.
The divide between property that has increased in value and those that have dipped highlights the current patchwork property landscsape. It also indicates that there are still areas of opportunity for buyers and investors looking to capitalise on a falling rate cycle and flat property market.
RP Data's Tim Lawless said the Equity Report gives an estimate of equity accumulated across Australia's housing market.
"This is done by measuring the difference between the original purchase price of a home and the current valuation for individual properties around the country," Mr Lawless said.
"While there is a lot that can be taken from this report, it is interesting to note that capital cities have ultimately been proven to be less susceptible to ongoing value falls than certain non-capital city markets."