Property values nationally have passed a major milestone with the average home price pushing through the $1 million mark for the first time ever. Have you been putting off buying? If so, here’s how to get the ball rolling.
Despite a cost-of-living crunch and several years of high interest rates, the Australian property market continues to break records.
New figures from the Australian Bureau of Statistics (ABS) show home prices recently passed a key benchmark.
We’re even seeing a recovery in property values in areas such as Darwin, Hobart and Canberra, where price growth has been comparatively low in recent times.
If you’re thinking of buying a home, chances are you’re wondering “will home prices keep rising?”
While it’s impossible to accurately predict the future, the general view appears to be that home prices are set to head higher.
CoreLogic says the recent May rate cut is likely to have a “positive influence on housing values in June and through the rest of the year”.
Meanwhile, the outlook from the team at PropTrack is that we are likely to see further price growth through the remainder of 2025 based on tight housing supply, targeted buyer incentives (such as first home buyer schemes) and population growth.
Talk to us to get the ball rolling on your purchase plans
They say the right time to buy a home is when you’re ready.
But how do you really know when that is?
If you’re interested in finding out, talk to us to understand your borrowing power, and get the ball rolling on a home loan that matches your needs.
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