The federal election and those ‘Trump tariffs’ did little to dent relentless property price growth.
Brissie prices jumped an extra 0.4 per cent in April, exceeding the national growth rate of 0.3 per cent, reports Australian Property Investor.
The data comes from the latest Cotality – formerly CoreLogic – Home Value Index. (In case you missed it – and we almost did! – CoreLogic has rebranded to Cotality).
As Australia still faces a sizeable undersupply of homes, political events unfolding on the national or international stage are unlikely to upset property prices.
“Recent estimates from AMP economists put this shortfall between 200,000 and 300,000 homes, which will take some time to address,” says Cotality Research Director Tim Lawless.
“Until supply and demand are more evenly balanced, it is hard to see any material reduction in housing values.”
But we are seeing the pace of growth slow a little, which will be welcome relief for those trying to get into the market.
Anne Flaherty, REA Group Senior Economist, said while national home prices rose in April, the rate of growth has slowed compared to the first three months of the year.
“The rate of price growth is moderating in outperforming cities such as Perth, Adelaide and Brisbane, while underperformers such as Melbourne, Canberra, and Sydney have started to pick up, which is lessening the divergence in home price growth seen across the country over the past year.”
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