Two-speed property market
CoreLogic's latest figures revealed a two-speed property market, with prices declining over the past quarter in Melbourne, Hobart, and Darwin.
Source: CoreLogic
CoreLogic reported that supply is tight overall, with the number of homes for sale in Brisbane, Adelaide, and Perth 30 per cent below normal levels.
The lowest price quartile of the market is driving prices, with prices up +3.3 per cent over the quarter, versus +0.8 per cent for the upper price quartile.
As a result, units recorded a faster pace of growth than houses, almost across the board.
It looks like the rapid pace of growth in rents has now slowed down, which is good news for inflation, with more investors now coming into the market.
You can read the full CoreLogic report here.
