Surfers Paradise 
In April, Australian home values continued their upward trend, as reported by CoreLogic’s national Home Value Index (HVI), showing a 0.6% increase. This consistent growth, mirroring previous months, contributed around $4,720 to the national median dwelling value. This marks the 15th consecutive month of growth, with an impressive 11.1% increase, approximately $78,000, since January of the previous year.
The housing market displays varying speeds across different regions, with mid-sized capitals leading the growth. Perth leads with a 2.0% increase in April, followed by Adelaide at 1.3% and Brisbane at 0.9%. Sydney’s values have remained steady with a 0.4% increase over the past three months, while Melbourne’s market has stabilized after a slight dip earlier in the year.
Smaller capitals have also witnessed improvements, with Hobart and the ACT recording consistent, albeit mild, rises in home values over the last three months. Tim Lawless, CoreLogic’s research director, highlights Perth’s robust housing market, while affordability pressures may be moderating growth in Brisbane.
Lower-value markets are experiencing stronger growth across most capital cities, with unit values surpassing house values in many areas. Regional markets have shown a slightly stronger quarterly growth rate compared to capital cities over the past five months. However, the housing sales market seems to have peaked in November, with affordability issues and low sentiment likely to constrain sales until interest rates decrease.
Despite these challenges, home sales over the past three months have remained higher than the previous year, indicating resilience in the market. As the housing landscape continues to evolve, monitoring regional trends and market sentiments will be crucial for navigating future opportunities.
Source: Corelogic
