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April 10, 2024
In an impressive display of resilience, March has seen Perth, Brisbane, and Adelaide continue to break records in the property market. The buoyancy in these cities is particularly noteworthy against a backdrop of national housing market softening in other areas. This month, Perth has continued its ascendant trajectory with a 1.2% growth, contributing to a 5.6% quarterly rise which is the highest across all state capitals.
Brisbane, not far behind, has witnessed a 1.1% growth over the month, aligning with a broader trend of property value increases in Queensland. Adelaide, however, steals the spotlight with a 1.4% rise in dwelling values, the highest monthly growth recorded, and an impressive 3.3% increase over the quarter.
April 19, 2024
Like any market, property prices are a consequence of supply and demand.
For many months now, we’ve heard a similar refrain concerning the ‘chronic undersupply’ of housing across the market. Housing Australia has even forecast a national shortfall of 100,000 homes in just four years’ time.
This being true, how is it possible for Melbourne to be oversupplied with property?
Based on CoreLogic figures, Melbourne saw 90,000 total property listings across 2023, alongside just 81,203 total sales.
