Reported 1 day ago
According to property consultant Cotality, Australian home prices increased by 0.7% in August, reaching a median value of A$848,858, driven by heightened buyer demand and limited inventory. This marks the highest monthly gain since May 2024, with significant rises noted in major cities like Brisbane and Sydney, while Hobart was the only city to see a decline. The increase in demand is attributed to improved borrowing capacity and rising confidence among buyers as the Reserve Bank of Australia continues to cut interest rates.
Source: YAHOO