This year will be an 'interesting' one for Australia's property market, according to an economist. Could the scales be tipped in favour of buyers?
Australia's housing market is said to be at a crossroads, as affordability pressures and shifting demand reshape property values nationwide. In addition to revealing where home prices have fallen the most, this week's Domain's house price report for the December quarter showed an increase in housing stock in 2024 led to a December with the highest number of homes for sale across the combined capitals in three years.
It's underperformed as a market since 2020, but in the final quarter of 2024, we saw growth," Powell said. "This reflects value building up over time and activating buyers, particularly first-home buyers. "You tend to see Sydney and Melbourne price cycles follow one another closely.
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