market smart

The Australian housing market has carried on its upswing into 2024. National dwelling values rose 0.4% increase in January marking a consistent, year-long rise in value. As we saw towards the end of 2023, Perth, Adelaide, and Brisbane have seen significant growth and continue to drive the aggregate figures as some other cities have experienced declines. Regional markets are also gaining momentum, outpacing the capital cities in value growth​​. Read on as we examine these trends more closely and discuss the important factors for investors to consider moving forward.

The market continues to display considerable diversity across regions and cities. In the past month, overall growth was at 0.6%, up from 0.4% in January. Perth (1.8%), Adelaide (1.1%), Brisbane (0.9%) and Canberra (0.7%) outpaced this average.

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.