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NSW homes have emerged as the country’s most valuable assets, with mortgaged dwellings across the state showing an average of 56.6 per cent equity, equating to $358,763*, according to an exclusive new Housing Equity Report by Aussie Home Loans and CoreLogic RP Data.

The report shows that the vast majority of homes in the Sydney metropolitan area have equity values of more than 50 per cent – meaning the difference between the debt held on a property (based on Aussie’s mortgage data), against what the property is currently valued at (according to CoreLogic) is less than half for most Sydney council regions.

Average level of home equity – city by city in percentage and dollar values

Average level of home equity – state by state in percentage and dollar values

Executive Chairman of Aussie, Mr John Symond, said “Our data confirms that NSW property has been a great wealth creator for owners, compared with other asset classes and property in other states across Australia.

“I believe the best investment both for security and lifestyle is still real estate and I see no reason why this will change over the next decade, especially in view of the lower interest rate climate, lack of housing supply and continuing population growth”, he added.

Fast growing Sydney council areas dominate the survey as property prices have risen at a compounding rate of 8.3 per cent over the last 20 years.

Sydney’s recent price growth surge has pushed home values and equity levels higher, with the city’s median house price now the highest of any capital city.

Hunters Hill homes have emerged as the top council area with an average equity level of 72.3 per cent or $878,481, followed by Canada Bay (70.2 per cent) and Ku-ring-gai (69.2 per cent).

Meanwhile councils throughout the Upper Hunter Valley have recorded the lowest average home equity within New South Wales, with Muswellbrook and Singleton the major laggards.

Top 10 and Bottom 10 council regions in NSW – percentage and dollar values

Mr Tim Lawless, Research Director of CoreLogic RP Data, said “Sydney is leading the state in home values as the population grows in the city, while many regional centres are facing neutral or falling population levels.

“The figures show that areas close to Sydney’s CBD have generally performed better as the population becomes more compressed with more medium to high density dwellings”, he added.

Average level of home equity – state by state percentages and dollar values

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