Home prices surge in seller's market | The Business | ABC NEWS скачать в хорошем качестве

Home prices surge in seller's market | The Business | ABC NEWS

Australian property prices have pushed higher again in August, as lower interest rates, rising real wages and buyer optimism collided with a shortage of homes for sale. Nationally, home values rose for the seventh consecutive month, up 0.7 per cent, according to figures from property research firm Cotality (formerly known as CoreLogic) — the strongest monthly gain since May last year. The national median home value is now $848,858, up 4.1 per cent over the year. Brisbane led the monthly gains, followed by Perth, Darwin, Adelaide, Sydney, the regions, Canberra and Melbourne. But in Hobart, property prices fell. Eliza Owen, head of research at Cotality, said advertised home listings were down about 20 per cent compared to usual. Sydney real estate agent Tina O'Connor said competition for available properties is strong and it's probably a "seller's market". Real estate agent Tony O'Doherty also pointed to a seller's market and said properties in Brisbane were benefiting from the buzz around the upcoming Olympic Games and infrastructure investment. Experts say further interest rate cuts from the Reserve Bank and the federal government's expanded First Homebuyer Guarantee program will add to demand and fuel property price growth. The federal scheme allows first homebuyers to purchase a property with just a 5 per cent deposit, without paying lenders mortgage insurance, with the government assuring the remainder of the deposit in the case of a default. Rabobank senior market strategist Ben Picton, warns the policy may help first home buyers today, but those trying to get on the property ladder down the track will find it even harder as prices rise. He said Australia's housing market is already overvalued on many metrics. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2025-09-0... ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook:   / abcnews.au   Follow ABC NEWS on Instagram:   / abcnews_au   Follow ABC NEWS on X (Twitter):   / abcnews   Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia