Will the growth continue?
There are signs that further price growth will come, reports urban.com.au.
In April, values rose 1.4 per cent taking growth to 6 per cent in 2022, already close to matching the 14.4 per cent growth over 2021, according to data from the CoreLogic Monthly Hedonic Home Value Index.
But won’t interest rates dampen price growth?
Possibly yes. But as buyers find themselves priced out of houses in their desired suburbs, units become an attractive and more affordable alternative, continuing to drive demand.
Prudent home buyers with an eye on future interest rates may also want to buy a more affordable property type to minimise home loan repayments in the face of likely future interest rates.
But whether prices rise or not still comes back to underlying supply and demand, and supply remains low.
“Total advertised inventory of both houses and apartments is more than 20 per cent below levels from a year ago in Brisbane, and around 40 per cent lower than the previous five-year average,” reports urban.com.au.
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