WHAT’S HAPPENING IN OUR MARKET? Year-on-year, we are now recording the strongest growth since July 2022. Australian house prices increased by 6.% while units increased by 4.3% over the past 12 months. While there was speculation that house price growth would slow once more properties became available for sale, this doesn’t seem to be the case. Buyer demand remains robust, despite finance costs and the relative difficulties in getting a home loan compared to 18 months ago. Nearly all major cities saw listings decline in September. On a year-on-year basis, however, the trend is far more positive. Sydney is leading the charge with total listings up almost 26%. At this point, it does look like the supply/demand imbalance between people wanting to buy and the number of properties for sale will ensure that price growth continues. Ray White listing authorities (the point at which a vendor signs to a Ray White agent but the property is not yet advertised) pulled back in Sydney and Melbourne in September relative to August. If this trend continues, and starts to be observed in other states, it’s likely that this will be a contributor to continued price growth, alongside ongoing strong population growth and low housing supply. If you’re considering a move, buying or selling, give our expert team a call. We look forward to helping you realise your property goals. Phillip Elmowy Anthony Vella Alex Santelli DIRECTOR DIRECTOR DIRECTOR
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