Spring is here - August housing market records price rise
Australia’s August housing market records yet another price rise as spring arrives
The Australian housing market continued its recovery in August, with national home values rising by 0.8%, according to the latest CoreLogic Home Value Index. This marks the eighth consecutive month of national home price growth, and the fastest rate of growth since March 2022.
The recovery was driven by all capital cities except for Hobart, which recorded a 0.1% monthly decline. The city with the most significant value increase was Brisbane, where prices rose by 1.5%, followed by Sydney and Adelaide, where prices increased by 1.1%.
The spring selling season is now underway, and analysts are expecting the housing market to remain strong in the coming months. This is due to a number of factors, including low interest rates, strong buyer demand, and a shortage of housing supply.
More detailed information can be found at The Property Tribune.