The Current Australian Property Market

The Australian property market is continuing to experience a period of growth and stability, despite the global economic uncertainty and the impact of the coronavirus pandemic.

Recent figures from CoreLogic show that median house prices have risen by 2.6 percent over the past 12 months, with prices in Sydney increasing by 3.2 percent, Melbourne by 3.1 percent, and Brisbane by 1.4 percent.

The growth in the market is being attributed to a number of factors, including low interest rates, a rise in population, and government stimulus measures.

Low interest rates have made it easier for borrowers to access finance, and have also encouraged investors to buy property. There has been a surge in foreign investment, with Chinese investors being particularly active in the market.

The population of Australia is also growing, with the current population at 25 million. This is driving up demand for housing, as more people look to buy property.

The government has also implemented a number of stimulus measures to help stimulate the economy, such as the HomeBuilder grant scheme. This scheme provides grants of up to $25,000 for eligible first home buyers to build or purchase a new home.

Overall, the Australian property market is in a strong position. Prices are rising, and the market is expected to remain stable in the near future. However, it is important to remember that the market is always subject to change, and buyers should always ensure that they are making an informed decision.