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
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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