In recent months, Australian house and unit prices have maintained an upward trajectory, growing by 1.3 per cent and 0.8 per cent, respectively. The persistently low supply of available properties, coupled with tight listings, has grown competition, resulting in elevated property values across both metropolitan and regional markets nationwide.
Despite the recent uptick in inflation, discussions around interest rate reductions have been put on hold. Nevertheless, this continued price momentum is expected to characterise the Australian housing market throughout much of this year. House prices have surged by 10.3 per cent annually, reaching a current median of $873,371, while unit prices have grown by 7.8 per cent over the year, with a national median of $649,774.
Average West End Sale Prices June 2024
1 bed apartment $466,750 (Low $420,000 High $626,000)
2 bed apartment $735,000 (Low $600,000 High $1,300,000)
3 bed apartment $1,400,000 (Low $880,000 High $1,580,000)
House $1,680,000
West End Apartment Data – REA 8/7/2024
West End House Data – REA 8/7/2024
Capital City Unit Price Growth – Ray White Now – Volume 69 – June 2024
