The national housing boom is easing with Australia’s property prices rising at their slowest rate since January but lockdowns limiting homes for sale could push values higher.
Sydney house values climbed 1.9 per cent over August to a median value of $1,293,450, while apartments increased 1.4 per cent to $825,514. Houses in regional NSW increased 2 per cent. “Housing prices have risen almost 11 times faster than wages growth over the past year, creating a more significant barrier to entry for those who don’t yet own a home,” Mr Lawless said.“Lockdowns are having a clear impact on consumer sentiment, however to date the restrictions have resulted in falling advertised listings and, to a lesser extent, fewer home sales, with less impact on price growth momentum,” he said.
In regional NSW, values jumped another 2 per cent to be up by 24.8 per cent over the year while they increased by 1.3 per cent in Victoria and by 1.6 per cent in Queensland .
JennieDuke Real estate agents are at fault with a lot of misinformation about the property market Property listed for e.g 700,000. Put the offer in and get told it really is prised at 800,000
JennieDuke SMH spruiking property again on behalf of its advertisers
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: abcnews - 🏆 5. / 83 Read more »