RESIDENTIAL PROPERTY
NEW price records are expected for Australia’s housing market in 2024, with the December quarter of 2023 marking full recovery from the 2022 downturn...
According to Domain’s latest House Price Report, the last quarter of 2023 saw a new price record for Australia’s housing market, with both combined capital house and...
The median house price for the December quarter was at $1,094,539 for Australia’s combined capitals, with unit prices at $638,372...
“While stretched affordability, cost of living pressures and high-interest rates were expected to put a lid on property prices in 2023, the undersupply of new homes, cost-to-build...
House prices were down for three consecutive quarters and took four quarters to recover, while unit prices were down for five consecutive quarters and...
In Sydney, house prices reached a new peak at $1,595,310, recovering the full $147,000 value lost during the 2022 downturn. While unit price was at $795,994...
In Brisbane, house price growth continued to gain momentum, with houses about $31,000 above their previous peak in June 2022...
Likewise, Brisbane’s unit prices reached another price peak, eclipsing house prices for the seventh quarter in a row...
Both Adelaide and Perth’s combined markets remained at peak, with Adelaide’s house prices the only market to see a slowing growth over the quarter...
Canberra was the only city to defy the national trend, with house prices fall over the December quarter. While unit prices continued to grow...
“Looking ahead to the rest of the year – in the shorter term, high-interest rates will continue to exert stress on mortgage affordability and limit borrowing capacity,”...
“With an interest rate cut tipped to happen in the latter half of the year, we are expecting to see an increasing demand that will likely drive upward price pressures on...