The month of January presented a housing uplift through an increase of 0.4%, which is a slight increase from the rises in December and November 2023. In spite of this, the cities of Melbourne, Hobart and Canberra recorded negative growth with Brisbane, Adelaide and Perth recording rises of 1% or higher. Perth values increased 1.6% which is slightly lower than the high which was recorded in October.
Source: Corelogic
However, contrary to worsening home affordability, sales of homes in the rolling quarter to January 2024 showed an increase of 11.9% higher than the same time in 2023. This has been inferred to be an affect from tight rental markets and high migration.
The disparity in values between the house and unit markets in the capitals showed a median of 45.2%. This shows that the majority of Australians are less willing to pay higher for an attached home.
On the other hand, regional markets have shown a slightly higher growth of 1.2% over the rolling quarter when compared to the combined capital cities.