We’re now three months into a return to price growth and with interest rates now possibly peaking, it looks like this growth will continue for at least the short term. Population growth continues to accelerate and the ongoing construction crisis is set to result in too few homes being built for many years to come.
This month we take a look at what is driving the faster than anticipated return to price growth and estimate when we will get back to the 2022 house price peaks in each capital city. For our commercial property insights, we investigate what’s happening to foreign investment. While we’ve seen a big fall in foreign investment in residential property, the declines have not been as extreme in commercial.
We hope you enjoy this month’s Ray White Now and we look forward to providing you with more property market information in 2023.
Source: Ray White
Australian house and unit prices continue their upward trend this month, albeit at a slower pace. Both housing types saw a modest 0.2 per cent appreciation. However, the market is exhibiting greater diversity across states and regions, reflecting varying local economic conditions. July’s CPI results indicate a continued downward trend, … Read more
Australian residential property values have continued their upward trend in recent months, though June saw a deceleration with both houses and units recording a modest 0.2 per cent monthly increase. The ongoing scarcity of available properties and limited listings has intensified competition, driving up prices in both capital cities and … Read more