Despite a lot more homes on the market compared to last year and interest rates a lot higher, house price growth is continuing across our capital cities. The capital city median is now getting closer to $1 million and is now significantly
above the previous peak reached last year. Price growth is expected to continue for the remainder of the year.
We saw a jump in listings in late winter however this has failed to continue and spring has been far slower than expected for properties coming to market. In addition, potential new home buyers are being pushed into the established home market and strong rental increases are making renting far less attractive.
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 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