Home Prices Up Nationally

CoreLogic has published April national housing figures and despite the uncertainty of the US tariff war, volatile stock markets and our Federal Election property prices rose 0.3% in April. This is the third monthly increase in a row. For the month, Sydney prices rose 0.2% with a new median value of $1,190,000. Read the full article here. 

With interest rates expected to be lower at the next Reserve Bank of Australia Board meeting on the 19th and 20th May, many economists and property experts are predicting further gradual increase in prices for the rest of the year.

Locally we are still seeing a buoyant property market which is reflected in the above data. The majority of properties are being sold in a 3 to 4 week period. Buyers are keen and sellers are open to meeting the marketplace prices. For homeowners it is a great market to be buying and selling in and for investors the rental market does not have enough supply and rental prices continue to rise.