30/09/2024
New world order: Surprise cities climbing the residential ranks
Thereās been yet another changing of the guard in Australian property along with the arrival of spring.
Rarely seen in close to four decades of real estate record keeping, Melbourne values have dipped below those of Adelaide and Perth, signalling a shake up for capital city property prices.
In June, Brisbaneās median dwelling value had already surpassed the Victorian capital and Canberra to take out second place on the CoreLogic totem pole, and now just two months later, it has fallen to fifth on the list.
Cost of living pressures and a continued plateau in the official cash rate by the RBA has resulted in a quieter than average winter in real estate. CoreLogicās September Home Value Index revealed that national home values rose only 0.5 per cent during August, representing 19 months of consecutive increases. Meanwhile, the PropTrack Home Price Index reports that national home prices have recorded 20 straight months of growth.
New world order: Surprise cities climbing the residential ranksThereās been yet another changing... https://eread.com.au/afpg/172825