Reported 4 months ago
Australian home prices, including Sydney reaching a record high, continue to rise due to low supply of affordable homes pushing prices up nationwide. In May, national home prices increased by 0.8%, the sixteenth consecutive month of growth. Perth rose by 2.0%, Adelaide by 1.8%, Brisbane by 1.4%, and Sydney by 0.6%, matching the record high set in January 2022. Melbourne and Canberra also saw slight increases. This surge in prices is attributed to low housing supply despite rising consumer sentiment.
Source: YAHOO