Australia’s housing market has lost a bit of momentum, with April data showing an ease in monthly house price growth and a more pronounced divergence between markets. April price data shows national dwelling values continuing to rise – Canberra’s median dwelling price is up 7% over the last 12 months – but at a slower pace. While annual growth remains strong across much of the country, conditions are clearly shifting as higher interest rates, global uncertainty and policy risks weigh on sentiment. For property markets, the impact of the central bank’s interest rate rise in May will be mixed. The RBA’s message is clear: inflation control remains the priority. Higher rates will reduce borrowing capacity and weigh on buyer demand. But Australia’s housing shortage remains severe. Strong population growth and weak construction activity mean prices and rents are likely to remain supported, even as higher rates slow momentum. The data is pointing to a shift in behaviour, not a drop in underlying demand. For buyers, this is one of the more balanced conditions we’ve seen in some time. There’s more choice, more ability to assess, and more opportunity to negotiate. While overall competition has eased, it hasn’t disappeared. It’s simply become more focused and properties that are priced and positioned correctly are still achieving strong outcomes. Right now, the first week of a campaign matters more, presentation matters more, and the ability to respond to feedback quickly is what separates success from missed opportunity. If you’re thinking of making a move, my team and I will use our experience and market insights to put you in the best position. I invite you to get in touch and experience the Ray White difference for yourself. Andrew Lonsdale Senior Sales Agent Ray White Canberra WHAT’S HAPPENING IN YOUR MARKET?
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