Key events
Median value of homes increases for third month, Cotality says
Cait Kelly
The median value of an Australian dwelling increased approximately $2,720 in April, after a third straight month of growth, according to Cotality’s national home value index.
Over the past 25 years, the price of a typical home has jumped from four times the median income in the early 2000s, to more than eight times, with rates of home ownership among younger Australians dropping dramatically as a result.
A lift in home values was recorded across every capital city, ranging from a 0.2% rise in Sydney and Melbourne to a 1.1% gain in Darwin.
Regional housing values have continued to outpace the capitals, with values up 0.6% and 0.2% respectively over the month of April.
Cotality’s research director, Tim Lawless, said:
The rate cut in February supported an upwards inflection in housing market conditions, but the positive influence from lower rates seems to be losing some potency.
At the same time, household confidence slipped in April, with the US’s ‘Liberation Day’ tariff announcements and the upcoming federal election causing uncertainty. It is likely this may be causing some buyers and sellers to delay their decisions.
