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Thursday, 21 September 2023

Home prices higher over the year (PropTrack)

Home prices move higher

Capital city home prices increased by 0.35 per cent in August according to PropTrack, to be 3.4 per cent higher than a year earlier. 


Despite many doom and gloom forecasts, the market has been surprisingly resilient in the face of a large and rapid increase in interest rates. 

Prices are slightly lower than a year earlier in Hobart (-4 per cent), Darwin (-1 per cent), and some parts of regional Australia. 


Overall, thought, it's been a case of onwards and upwards for the capital city markets, with the next move in interest rates likely to be down, in the face of a massive dwelling shortage.