Australia’s Property Market Cools After Two Years of Growth

Australia’s property market has finally come off the boil after a resilient run of growth at a time of. For the first time in nearly two years, CoreLogic recorded a monthly decline in national home values. The 0.1% fall in December followed a flat result in November and a gradual slowing in the pace of growth over the course of the year.

After a moderate downturn in 2022, as the Reserve Bank of Australia first started hiking interest rates, home prices starting rising again even as the fight against inflation raged and the cash rate stayed elevated. Given constrained borrowing capacity and cost-of-living pressures, Lawless said the price growth clocked between February 2023 and October 2024 was surprising. Even the mid-sized capitals, which have been logging particularly strong price growth, have been starting to slow down. Perth eked out the biggest property price increase in December, a 0.7% gain to be a whopping 19.1% higher annually. Adelaide’s market rose 0.6% over the month, and Brisbane 0.5%. Darwin also clocked a 0.4% improvement after a lacklustre 12 months. “With worsening affordability constraints and reduced borrowing capacity, we have seen buyer demand pushed towards lower priced markets, which has, in turn, supported stronger growth conditions in these areas,” Lawless said.All other capitals recorded price declines in December, with Sydney down 0.6% and Melbourne 0.7%.Regional markets fared a little better than their urban counterparts, with the combined regionals gauge up a modest 0.2% over the month and 6% annually. While interest rate cuts would probably support housing demand in 2025, CoreLogic did not expect the easing cycle to trigger another phase of strong price growth. In a welcome development for financially stretched renters, the

Argentina Últimas Noticias, Argentina Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Australia's Property Market Cools Down After Two Years of GrowthFor the first time in nearly two years, Australia's property market experienced a monthly decline in home values. CoreLogic recorded a 0.1% fall in December, following a gradual slowing in growth throughout the year. Despite the Reserve Bank of Australia's interest rate hikes, home prices had rebounded earlier in 2023. However, affordability constraints and cost-of-living pressures are now impacting buyer demand, leading to a cooling in the market.
Fuente: GuardianAus - 🏆 1. / 98 Leer más »

Australian Property Market Cools in 2024The Australian property market experienced a slowdown in 2024, with prolonged high interest rates dampening buyer enthusiasm. While national home values still rose by 5.5 percent, growth weakened throughout the year. Sydney and Melbourne saw falling values by spring, while smaller capitals experienced slower growth.
Fuente: brisbanetimes - 🏆 13. / 67 Leer más »

Australian Property Market Cools in 2024The Australian property market experienced a slowdown in 2024, with prolonged high interest rates dampening buyer enthusiasm. While national home values rose 5.5%, growth weakened throughout the year, particularly in Sydney and Melbourne. Increased listings and longer selling times indicated a shift in market dynamics.
Fuente: theage - 🏆 8. / 77 Leer más »

How Sydney’s property market was transformed in my 12 years of Title DeedsLucy Macken looks back on the best houses, biggest buyers and bumper stories as she finishes her stint covering prestige property.
Fuente: smh - 🏆 6. / 80 Leer más »

Three Churches Hit the Property Market for ChristmasThree historic churches have been listed for sale during the festive season. The Presbyterian Church's landmark St Kilda church, built in 1886, is priced at $3 million, while the Uniting Church's former Wesleyan Methodist Church in Daylesford, built in 1865, is expected to sell for under $1 million.
Fuente: brisbanetimes - 🏆 13. / 67 Leer más »

Record Property Profits for Australian Resellers Despite Slower MarketA new report reveals Australians are making record profits when reselling their property, even with a slowing housing market.
Fuente: GuardianAus - 🏆 1. / 98 Leer más »