July 11, 2023

NAB Australian Housing Market Update: July 2023

Australian housing values have moved through a fourth month of recovery with CoreLogic’s national Home Value Index rising 1.1% in June, decelerating slightly from the 1.2% gain recorded in May.

Every capital city except Hobart saw dwelling values rise in June, with Sydney continuing to lead the cycle, up another 1.7% in June to be 6.7% higher since values found a floor in January.  In dollar terms, Sydney’s median dwelling value is rising by roughly $4,262 a week.

A lack of available supply continues to be the main factor keeping upwards pressure on housing values.  Through June, the flow of new capital city listings was nearly -10% below the previous five-year average and total inventory levels are more than -25% below average.  Simultaneously, our June quarter estimate of capital city sales is tracking 2.1% above the previous five-year average.

Read the full transcript here or watch the capital city video updates below for the latest news:

2024 ‘Next Gen Real Estate’ Report

2024 ‘Next Gen Real Estate’ Report

5 June 2024

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2024 ‘Next Gen Real Estate’ Report

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