Posted 4/1/2024, 7:00:00 PM
Australian Home Values Defy Rate Rises with Continued Growth in Early 2023
- Australian home values rose 0.6% in March and 1.6% in the first quarter of 2023, continuing a 14-month growth trend
- Growth has defied expectations of a slowdown due to high interest rates and cost-of-living pressures
- Perth, Adelaide, and Brisbane saw the largest home value increases, while Melbourne was flat
- Undersupply of housing compared to demand is putting upward pressure on values
- Net overseas migration peaked in early 2022, adding almost 550,000 people needing housing
