Median dwelling values were driven up nearly 30 per cent across the nation since the COVID pandemic struck and it put property out of reach of many buyers.
Australia’s two biggest cities, Melbourne and Sydney, have been long time powerhouses of the nation’s property market but are starting to lag behind.
Hot housing markets around the country look set to attract a crackdown from the Treasurer Josh Frydenberg.
House prices are still surging as the temperatures plummet but things could be cooling down in the market as well as the thermometer and it has little to do with recent lockdowns.
Moves in this year’s federal budget to try and improve housing affordability could end up making things worse according to some experts.
The property price boom around the country is seeing a rise in investor activity.
Melbourne has joined a host of other Aussie capital cities experiencing new median price highs.
Australia is approaching another housing boom just one year on from the pandemic onset as prices are tipped to rise by 16 per cent over the next two years.
The two key stats that will be raising eyebrows are the falls in number of days on market before sale and falls to price discount levels.
House prices are now rising in all Australian cities despite the world still being in the grips of a pandemic.
