_The ‘typical’ Australian
Both her parents were born in Australia and she completed Year 12 at school or equivalent. She is typically married with two children and speaks English at home.
Five years earlier, in the Census 2011, it was found the typical Australian was a female aged 37 years old, a year younger than the recent survey, although little change was recorded in the living and family arrangements over this time.
The weighted average of residential (houses and apartments) median values at the time of the Census 2016 was $641,500 for capital cities and major regional suburbs around Australia. In comparison to the weighted average recorded at the time of the Census in 2011, median values have increased 29.7% to $494,500.
In 2011, the suburb of Noosa Heads on Queensland’s Sunshine Coast ranked the highest in the collective group of key locations around Australia, with a median residential value of $608,500.
Greater Sydney followed with a median value of $587,000, however recording the strongest growth (at 54.6%) over the five years to the Census 2016—to rank the highest of the group to stand at $907,200.
With this exceptional growth in Greater Sydney over the five years, the ‘ripple effect’ of price growth has spilled into satellite cities of Gosford, Wollongong and Newcastle experiencing total growth over this time of 48.6%, 42.1% and 31.4%, respectively.
Across the capital cities, behind Greater Sydney, Greater Melbourne saw the next greatest growth in residential values, across the five years at 26.3%, to stand at a median of $672,000. Greater Brisbane (at 12.8%), Greater Hobart (at 11.1%), Greater Adelaide (at 10.4%) and Greater Perth (at 6.8%) followed.
Of the 10 major regional suburbs recording a residential median value below $400,000 as at Census 2016, six recorded negative price growth following Census 2011. A market correction was most evident in previously resource-dependent regional Queensland suburbs of Mackay (-19.6%), Rockhampton (-11.8%) and Gladstone (-11.5%).
The latest Australian Residential Review can be downloaded.
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