Home Real Estate The Surprising Impact of Australian Property Prices on Housing Demand

The Surprising Impact of Australian Property Prices on Housing Demand

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Real Estate Trends 2023

Perth and Adelaide home costs are the top tier, with the two urban communities having recorded yearly development above 6%. In the mean time, development in Melbourne and Hobart has to a great extent been stale, at 3.4% and 2.8% separately.

More stock on the market not slowing down price growth

The past month has witnessed a rise in properties for sale. There are several reasons behind this pattern. The rising interest rates and negative sentiment toward landlords have caused investors to sell their properties and leave the market.

This may be interpreted as a positive trend, as more people selling their houses will lead to more much-need stock being available in the overheated market.

Prices fell marginally in July, partially due to the unforeseen interest rate increase in June, and an increase in stock on the market. However, this trend has all but since reversed, with the markets that experienced the largest price falls last year also having seen the greatest increases last month.

Source : https://thepropertytribune.com.au/market-insights/australian-property-prices-defy-expectations-as-strong-housing-demand-prevails-and-investors-want-out/ 

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