New data from the Australian real estate market revealed that as of November 30, the overall house prices in Australia's capital cities were **06%。Among them, Perth started with 1The 9% gain led the way, followed by Brisbane and Adelaide with a 12%。
However, Melbourne house prices are actually up to 01%, Sydney's gain was only 03%。Notably, house prices in Melbourne and Sydney fell rapidly after the RBA announced an increase in the official cash rate on Melbourne Cup Day. Proptrack's Cameron Kusher cautions against reading too much into this, as house price growth usually slows down at this time of year.
However, Sydney and Melbourne have also seen a surge in the number of people for sale**. Despite this, the average value of dwellings in the five major cities has increased by 2 in the past three months4%, with Brisbane, Adelaide and Perth leading the way.
Since the trough in January this year, the price of housing prices is still staggering, with the total price of housing in 5 cities increasing by 98%。However, the trend of house prices across Australia is currently slowing due to rising lending rates, declining affordability and rising inventory levels, particularly in Sydney and Melbourne. This phenomenon highlights the volatility of the market and the complexity of being affected by a variety of factors. Investors and buyers alike need to keep a close eye on changes in the market to make informed real estate decisions.