Home prices lift on tight buying conditions

Tight markets prevail

Buying conditions are becoming very tight in many of Australia's capital cities, with properties frequently selling under multi-offer scenarios.

Home prices lifted by 0.8 per cent across the capital cities in August, led by strong gains in Brisbane, Perth, Adelaide, and Sydney. 

Brisbane prices rose 1.2 per cent, which isn't a great surprise to us, given the level of competition for homes out there. 

Only Hobart recorded a small decline over the month. 

Source: Cotality

At the national level, the 0.7 per cent increase followed on from a 0.5 per cent increase in the preceding month, and was the biggest lift in 15 months. 

It feels like immigration has picked up, with rental markets tightening again, but we don't have official real-time figures to confirm or otherwise. 

You can read more from Cotality here. 

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Cotality also put on some interesting research on dwelling approvals...

Source: Cotality

And slow build times, which have really blown out since 2020, as construction costs have steepled higher and confidence has been hit...

Source: Cotality

You can read the full pulse here. 

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