Reported 10 months ago
As 2024 concludes, Australian home prices experienced their first monthly drop in almost two years, with a 0.1% decline nationally in December, attributed to rising mortgage rates and increased seller activity. Major cities like Sydney and Melbourne saw larger decreases of 0.6% and 0.7%, respectively, while other cities like Brisbane and Perth continued to witness price growth. Overall, home values increased by 4.9% throughout 2024, reinforcing concerns about affordability and future market dynamics.
Source: YAHOO