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Australian Property Prices on a Continual Rise, Trend Expected to Extend into Next Year!
Australian Property Prices on a Continual Rise, Trend Expected to Extend into Next Year! 悉尼
By   Internet
  • 城市報
  • Australian Property Prices
  • Upward Trend
  • Sydney Real Estate
Abstract: According to the latest data, property prices in the Sydney and Melbourne areas of Australia continue to not only rise but have also reached historic highs.

According to CoreLogic's latest data, Australia's real estate market has shown an upward trend for eight consecutive months. Particularly, Sydney and Melbourne have displayed outstanding property price performance, making them the two leading cities in national property price growth.


The data shows that in September, the national Home Value Index (HVI) recorded a growth rate of 0.8%, marking the eighth consecutive month of increases.


In the preceding month of August, the national Home Value Index also rose by 0.7%, indicating a slight slowdown in growth but maintaining the upward trend.


The quarterly increase reached 2.2%, slightly lower than the previous 3.0% increase, indicating a somewhat decreased market heat, possibly related to the rising inventory levels.


Over the past quarter, Adelaide recorded the highest capital growth rate at 4.3%, followed by Brisbane at 3.9% and Perth at 3.6%. In contrast, Hobart saw a 0.2% decrease in property prices during the quarter, reaching a new cycle low.


Overall, property prices in Australia have risen by 6.6%, exceeding the inflation rate. The property prices in the Sydney and Melbourne areas have shown particularly robust performance.

Australian Property Prices on a Continual Rise, Trend Expected to Extend into Next Year!

Sydney's median house price increased by 1%, and the median price for apartments is nearing its previous record high. Melbourne's property prices rose by 1.2% in the past three months, approaching the historical highs before the pandemic.


Furthermore, property prices in other regions are also on the rise. Adelaide saw a 1.7% increase, while both Brisbane and Perth recorded a 1.3% increase.


In fact, property prices in Perth and Adelaide have already reached historic highs, and Brisbane is only 0.6% below its previous peak, expected to surpass it soon.


This trend of rising property prices contrasts with predictions made by Australian property experts last year. They had forecasted a potential 10% drop in property prices over the following 12 months, believing that consecutive interest rate hikes would weaken borrowers' affordability, dampen housing demand, and potentially lead to a 'cliff' in loans.


However, the actual situation has shown a 6.6% rebound in Australian property prices this year, with expectations of an increase of up to 8% by year-end. There is even a possibility of a further 6% rise in the coming year.


Despite the current upward trend in property prices, it is essential to remain cautious of market uncertainties and risks. Governments at various levels are taking measures to curb speculative buying and increase land supply to mitigate property price increases.


Additionally, the economic development environment remains uncertain in the current pandemic context, which could also impact the real estate market.


Therefore, for investors, careful analysis of market conditions and consideration of their risk tolerance are crucial for making prudent investment decisions.

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Australian Property Prices on a Continual Rise, Trend Expected to Extend into Next Year!
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