Australian Housing Market Steadies - triSearch

Australian Housing Market Steadies

Conveyancers need to watch the Australian housing market.

Australian housing prices are starting to steady, following a year of record sales. 

After January’s gains of 0.6 per cent (Sydney) and 0.2 per cent (Melbourne, respectively, Sydney prices fell 0.2 per cent through mid-February. Indicating signs of a negative month, to be clarified from March 1, in the CoreLogic monthly report. 

House listings are showing more choices with more properties for sale on the market, effectively holding prices steady for the time-being.  

Elsewhere in the market, Brisbane is on the rise, lodging an increase of 2.3 per cent in January and is on target for another two per cent in February.  

Australian housing market update by Capital City in each State 
 
Here’s what’s happening to property prices so far this year according to Michael Yardney’s propertyupdate.com.au.  

Overview 

Despite the flood of properties which hit the market in 2021, supply of properties for sale are yet to meet demand from the sheer quantity of buyers in the Australian housing market. 

It is likely we will continue to see this trend steadily continue, until “plausible” rate increases hit later this year. 

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