House and unit price growth continued in September after reaching a new peak in July. Year-on-year, we’re now recording the strongest growth since mid last year. Australian house prices increased by 6.1 per cent while units increased by 4.3 per cent over the past 12 months.
In September we conducted more than 1,800 auctions, the highest September number ever recorded. Despite an uplift in the number of properties going to auction, we also saw an increase in the total number of people actively bidding, increasing from 4,700 people to 5,100 people.
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