You might remember that from May 2022 to February 2023, the Australian housing market was a bit of a rollercoaster, with values dropping by 9.1%. But don’t worry, it looks like we’ve turned a corner, and things are looking up! For the past two months, housing values have been nudging upwards, according to CoreLogic’s Home Value Index. We’re now 1.0% higher than we were three months ago. How good is that?
Sydney’s leading the pack with a 1.3% increase in housing values in April alone, but all four of our biggest capital cities have seen their housing values go up over the last quarter. Even better, other indicators like auction clearance rates and home sales are also looking pretty good.
Now, over here in regional Queensland, things aren’t quite as simple, with a bit more diversity in the market trends. But don’t let that worry you! Even though most areas are still below their recent cyclical highs, values are generally stabilising or even going up. And with the current shortage of housing supply and an influx of overseas migration, we’re seeing potential buyers getting eager. That could give you a bit of an edge if you’re thinking of selling. So, if you’ve been pondering whether to put your house on the market, now might be a pretty good time to make a move. It’s looking like our housing market is on the rise again, which is great news for sellers like you.
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