Property prices

A recent Property Council of Australia release has claimed that due to a cocktail of influences, housing affordability across Australia will worsen.

With interest rate rises weighing on prices, a new outlook report is forecasting property price falls of between 7 and 10 per cent nationally.

Despite consistent growth in regional housing values over the past five months, the impact of rising interest rates is becoming apparent in several regional markets.

National home prices have reached new heights for the month despite rising interest rates and an easing in price growth.

The home price recovery is expected to continue into 2024, PropTrack has predicted.

Average property prices are still on track for a ‘top to bottom’ fall of 15–20 per cent, AMP’s Shane Oliver has confirmed.

National residential property prices are projected to lift further by the end of the year, according to PropTrack’s Market Outlook Report.

New PropTrack data revealed the suburbs where prices have doubled the quickest, with some values doubling over just one year.