Australian house prices continue to rise:The dual effects of strong demand and supply shortages
_ _
本周拍卖清空率Domain 统计截止至 2024-07-20 18:00:00 数据来源Domain 
areas| Median price sold| auction results| clearance rate
Sydney| 1.47 million| 390
| 66%
Melbourne| 889,000| 519 | 59%
Brisbane| 1.26 million| 45 | 47%
Adelaide| 882 thousand| 62 | 53%
Canberra| N/A | 34 | 47%
trend of housing prices
Although Australia's official interest rates have been rising and the number of listings on the market has increased, house prices are also rising.
Currently, housing prices in half of Australia have peaked.
According to PropTrack's June Home Price Index, after 18 consecutive months of growth, house prices across Australia are now 10% higher than their December 2022 lows and 7% higher than the past year.
A variety of demand and supply factors have driven the rise in house prices.
Strong population growth, severe rental market conditions and recent home equity growth have led to rising demand levels.
Although borrowing capacity has declined compared to previous years, the recent stabilization of interest rates has boosted buyer confidence.
Not only is demand strong, but supply is also limited due to a chronic shortage of new housing construction.
In NSW, Queensland and Western Australia, population growth in 2023 far exceeds the completion of new homes.
Perth and Adelaide also experienced significant year-on-year declines in total listings.
These trends are pushing prices higher and causing house prices to peak.
In 44 SA4 regions (half of all regions in Australia), house prices hit record highs in June.
The so-called SA4 area is the area where people live and work as defined by the Australia Bureau of Statistics, and the population is usually between 100,000 and 500,000.
Home prices in most of Sydney's SA4 areas hit new highs in June, except for the Central Coast, North Beach, Baulkham Hills and Hawkesbury. In contrast, only four areas in NSW saw house prices peak, many of which are still below their 2022 peak.
House prices hit new highs in most remote areas of Brisbane and Queensland.
All SA4s in Perth and Adelaide hit new highs, while only half of SA4s in remote areas experienced the same trend.
In these regions, price growth is stronger as demand continues to exceed available supply levels.
In Victoria, the speed of new housing construction is basically in line with population growth, and the total number of housing units has increased more than in most states, but prices are still below the peak in 2022.
The number of new homes in Tasmania and the Australia Capital Territory has exceeded population growth, which may be the reason for the slowdown in house price growth.
Although house price growth has slowed down, we expect house prices to continue to rise due to persistent demand and still tight supply.
However, each state's performance is expected to vary, with regions with cheaper housing prices likely seeing stronger growth.
参考数据：CoreLogic，REA
_
_
* The pictures in this article are all from the Internet. If there is any infringement, please contact the backstage to delete them.
recommended reading
19
07-2024
[
](
[
](
[
](
[
](
[
Australians are "the richest in the world" and have become a joke!
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
18
07-2024
[
](
[ ](
[
](
[
](
[ ](
[
](
[
](
[
](
[
Dutton, steady!
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[ ](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[ ](
[
](
[
](
[
](
[ ](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
17
07-2024
[
](
[ ](
[
](
[ ](
[
](
[
](
[
](
[
](
[
The Australian dollar soared, the stock market surged, and the Trump 2.0 shuffle began!
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[ ](
[ ](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[ ](
[
](
[
](
[
](
[
](
[
](
[ ](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
[
](
promotion
Thank you for reading. If you like our article, you can directly like and recommend it below.
The label cannot be clicked during preview
