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Property markets throughout Australia continue to show remarkable resilience.
Despite high interest rates and cost of living pressures, property markets across Australia continue to show remarkable resilience, according to the latest update from the Property Investment Professionals of Australia (PIPA). The update reveals that Perth, Adelaide, and Brisbane are finishing the year with double-digit dwelling price growth, with this strong performance expected to continue into 2025. While Sydney prices have hit record highs, PIPA Chair Nicola McDougall notes that Melbourne’s market remains sluggish, largely due to anti-investor rental reforms. Terry Ryder, Managing Director of Hotspotting, says Queensland has been one of the strongest performers in recent years, now leading the nation in real estate transactions, both for homebuyers and investors. Bryan Ong, Director at Rise High Investor, adds that Adelaide’s market is continuing its positive growth trajectory. Meanwhile, Glenn Biggins, Mortgage Broker at Focus Property Wealth, highlights that Perth’s property market has outperformed the rest of Australia in September, although there are signs it may have peaked.
