| Australian property prices look to be trending upwards again, judging by the latest data from CoreLogic. After the national median price fell 9.1% between May 2022 and February 2023, it has since risen in consecutive months – by 0.6% in March and 0.5% in April. “Not only are we seeing housing values stabilising or rising across most areas of the country, a number of other indicators are confirming the positive shift,” CoreLogic’s research director, Tim Lawless, said. |
| “Auction clearance rates are holding slightly above the long run average, sentiment has lifted and home sales are trending around the previous five-year average,” he said. Mr Lawless said it was notable this housing turnaround was occurring despite interest rates remaining elevated. “The last time we saw housing values trending higher through a rising interest rate environment was during the mid-to-late 2000s when the mining boom was underway. This period was also characterised by surging net overseas migration that contributed significantly to housing demand,” he said. |
