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
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
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