Future predictions for 2022 Property Market

Last month saw a small decline in the national housing growth rate, which was down 0.1% to 0.6% for April. While we are still seeing growth at the national level, the tide is clearly turning for the Australian property market. Sydney, Melbourne, and Hobart are leading this charge, having all recorded a decline in their monthly median property price. For Sydney, the 0.2% decline across April marked their third consecutive month of negative growth numbers. In Melbourne, the decline may have been nominal (0.04%), but it means values have technically decreased for three of the last five months. And in Hobart, the 0.3% decline is their first monthly fall in median value in almost two years.