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
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