Sydney’s house prices rose by the sharpest quarterly increase since late 2021, fuelled by strong demand outpacing listings.
Sydney’s house prices jumped 5.3 per cent in the June quarter, which is more than four times faster than the growth recorded in the previous three months, and the sharpest quarterly increase since late 2021, new Domain data shows.
Melbourne house prices rose 0.4 per cent, which is the first quarterly increase in 18 months. Brisbane rose 0.9 per cent and Hobart was up by 1.2 per cent. Meanwhile, Adelaide and Perth rose by 2.8 per cent and 2.2 per cent respectively. “As this trend continues, we’re likely to see a slowdown in the rate of growth to a more modest pace as the demand and supply equation rebalances.”
“As a business, we’ve seen three times more listings signed in June and July than what we saw for the same period last year, so that is significant. That doesn’t seem to be slowing down.” “But I’m not expecting prices to fall below the trough. We’re still expecting prices to rise, but at a slower pace.”Melbourne to rise by up to 2 per cent and Brisbane by 4 per cent. Across the combined capitals, house prices are forecast to increase between 2 per cent and 4 per cent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 LIVE: ASX slips; Macquarie shares tumble 4.3pc; Rio dropsShares edge lower at open; Wall St steady after US Federal Reserve lifts rates; Fortescue exports reaches top end of guidance; Medibank reshuffles execs. Follow here for more.
Read more »
Singe-level cottage in Sydney gains $500,000 in value in just monthsThe property on Sydney's northern beaches was on the market for just four days when it sold for the second time in less than a year. 9News
Read more »
Man charged after allegedly murdering best friend’s wife in Sydney unitErin Mullavey, 42, was allegedly stabbed during an argument between the pair in Merrylands earlier this year.
Read more »
Man charged over alleged stabbing death of Erin Gilbert in Sydney unitNew South Wales Police have made a long-awaited breakthrough in the investigation into the murder of Erin Gilbert, with the arrest of a 32-year-old man on Tuesday.
Read more »
Firefighter injured battling blaze in Western SydneyA family of five could now be homeless - after fire tore through their property at Merrylands early this morning. The house was empty when the fire started, with it's owners on an overseas holiday. MassiliaAili 9News MORE:
Read more »
Police charge man with murder of Sydney woman after alleged argument in her homeErin Mullavey was found dead in her Merrylands apartment on Easter Sunday, having suffered multiple stab wounds
Read more »