Sell with Confidence
Read More

Price growth continues in September

By Luke O'Kelly

Year-on-year, we are now recording the strongest growth since July 2022. Australian house prices increased by 6.1 per cent while units increased by 4.3 per cent over the past 12 months.

The city recording the strongest growth for houses over the year was Perth with prices up 8.6 per cent. Brisbane and Adelaide are recording the strongest increases for units, increasing by 6.8 per cent and 6.9 per cent respectively.

While growth continues, the rate of monthly change slowed marginally in September compared to the previous month. While Perth houses continue to show the largest increases year-on-year, they saw a slight drop in September of 0.5 per cent. Adelaide units, also a very strong year-on-year performer, saw a decline during the month of 0.4 per cent.

At this point, it does look like price growth will continue. Ray White listings authorities (the point at which a vendor signs to a Ray White agent but the property is not yet advertised) pulled back in Sydney and Melbourne in September relative to August. If this trend continues, and starts to be observed in other states, it is likely that this will be a contributor to continued price growth, alongside ongoing strong population growth and low housing supply.

Up to Date

Latest News

  • It’s a fast start to 2024

    Nerida Conisbee Ray White Group Chief Economist There was no rate cut last week but with markets now pricing in two cuts this year, it seems to be enough to drive demand for property. Property inspections are high, listing authorities are showing that more people are coming to market and … Read more

    Read Full Post

  • Tax Depreciation – What’s Claimable and What’s Not

    With many deductible items in your investment property that can be claimed on your tax return, it’s worth checking to see what depreciation applies to you. Here’s what you can claim, what you can’t and who you can ask for advice. What type of depreciation is available? For starters, there … Read more

    Read Full Post