Australian property prices continued to increase in December and into January and are now well above the previous peak in 2021 for both houses and units. While surprising, given the rapid interest rate increases, the growth reflects a
combination of continued population growth and limited new housing supply. With supply levels expected to remain limited this year despite some stability in construction costs emerging, sentiment surrounding interest rates being at their peak are likely to lead to continued price growth.
We hope you enjoy this month’s Ray White Now and we look forward to providing you with more property market information in 2024.
Source: Ray White
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
Property prices continue to rise nationwide, with significant growth in both metropolitan and regional areas. Regional markets show less dramatic changes, with Western Australia leading despite median prices remaining under $500,000, making it one of the more affordable regions. South Australia and Queensland demonstrate steady growth at 2.6 per cent … Read more