New data reveals surprising shift in Australia's housing market
- Jul 16
- 2 min read
Australia’s property market has faced major uncertainty over the past year, but new PropTrack data shows home prices have continued to rise in most suburbs.
Despite changing interest rates, higher living costs, global economic pressures and recent tax changes affecting investors, property values increased in many parts of the country.
According to PropTrack, house prices rose in 85% of Australian suburbs, while unit prices increased in 90% of suburbs over the past 12 months. In areas where prices declined, around half recorded falls of less than 3%.
The strongest growth was seen in regional areas and more affordable suburbs, with parts of Queensland, Western Australia and Tasmania outperforming major capital cities.
REA Group senior economist Anne Flaherty said regional markets had remained more resilient, with many areas continuing to hold record-high prices while some capital cities experienced declines.
Affordable suburbs in Launceston, Geraldton, Bunbury, Busselton, Albany, Bendigo and Wagga Wagga recorded some of the biggest annual price increases, with some locations rising by more than 30%.
In Tasmania, suburbs including Ravenswood, Waverley and Mayfield saw house prices climb by around 40% over the year, driven by strong demand from first-home buyers and limited housing supply.
However, experts warn some areas that experienced rapid growth due to heavy investor activity could face pressure as new tax rules reduce investor demand.
“Investor-focused suburbs may be more vulnerable to price falls as buyer demand changes,” analysts said.
Meanwhile, first-home buyers are finding more opportunities in some markets as competition from investors slows.
In Wagga Wagga, real estate agents reported that buyers are now facing fewer competing offers, creating better conditions for people entering the market.
Affordable suburbs in Brisbane, Sydney and Perth are also attracting strong buyer interest, with high enquiry levels supporting price stability.
Darwin remains one of the strongest-performing capital cities, with demand exceeding housing supply and property prices continuing to grow.
Experts say suburbs with strong buyer interest, affordable prices and limited housing availability are likely to remain more stable even if the broader market slows.
Overall, the data suggests Australia’s property market is becoming more divided, with affordable regional areas showing strength while some investor-heavy locations face greater challenges.
Source : Realestate
Stay tuned with Aus News Lanka – the leading platform for news for Australians.
Comments