In September, Australian house and unit prices continued their upward trajectory, marking the strongest year-on-year growth since last year. House prices in Australia increased by 6.1%, with Perth leading the way at 8.6% growth, while units rose by 4.3%, notably in Brisbane and Adelaide. However, there was a slight monthly slowdown in September, with Perth houses experiencing a 0.5% drop and Adelaide units declining by 0.4%.
September saw a mixed picture in property listings, with most major cities experiencing a decline, except Canberra. Year-on-year, Australian listings increased by 3.1%. Sydney is a standout, with a substantial 26% increase in listings. Brisbane and Darwin are still below 2022 levels. The supply and demand imbalance suggests that price growth will likely continue.
September recorded a record number of auctions, exceeding 1,800. Active bidders also increased, with Adelaide and Brisbane being hotly contested markets. Despite the higher stock levels, clearance rates remained strong at 74.5% across all Ray White auctions, just slightly lower than August’s 75.6%.
Because everyone deserves to smile at Christmas! We’re partnering again with St Vincent de Paul to bring some Christmas cheer to those local families in need. Over the past two years we’ve donated 22 hampers, 30+ gifts and $4,200 in gift cards! This festive season we’re doing all again! Ray … Read more
Choosing an experienced property manager is essential for protecting and maximising one of your most significant financial asset—your investment property. A skilled property manager ensures your property is well-maintained, tenants are reliable, and your returns are optimised, keeps in communication with you to give you peace of mind and long-term … Read more