Housing values have been more than resilient in the face of high interest rates and cost of living pressures, The ongoing rise in housing values reflects a persistent imbalance between supply and demand which varies in magnitude across our cities and regions, CoreLogic’s research director, Tim Lawless, said. 

The WA property market is currently experiencing extreme demand with record low listing numbers and a medium selling time of only eight days.

Median price growth for existing homes in Townsville is likely to be so strong over the next two years, the city could have one of the strongest growth rates in Australia, according to Knight Frank Senior Partner Townsville and Mackay Craig Stack. 

Property values in Australia’s combined regions are outperforming the combined capital cities despite the normalisation of internal migration trends, affordability challenges and a reduction in borrowing capacity amid higher interest rates, said Tim Lawless CoreLogic Research Director.