The property market recovers...but for how long?

HOUSING STOCK

‘For Sale’ signs are seen outside an apartment block in Canberra, Friday, March 3, 2023. (AAP Image/Lukas Coch) NO ARCHIVING Source: AAP / LUKAS COCH/AAPIMAGE

Analysts say the recovery could soon slow, which opens the door for renters who are ready to buy.


Key Points
  • Sydney has the highest price growth, at 6.7 percent, followed by Darwin, Brisbane, Hobart as well as Adelaide, and Perth has reached record prices, while Canberra held steady.
  • Advertised weekly rents across capital cities were $550 per week in June, which represents a 17 percent jump over the past 12 months, however, regional markets held steady though, at $480 per week.
  • House rentals are still high and expected to rise.


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