Price movements
Australian house and unit prices continue their upward trend this month, albeit at a slower pace. Both housing types saw a modest 0.2 per cent appreciation. However, the market is exhibiting greater diversity across states and regions, reflecting varying local economic conditions.
July’s CPI results indicate a continued downward trend, approaching the target two to three per cent band, suggesting potential interest rate reductions in 2025. This has boosted optimism and is expected to lead to a busy spring sales period, with preliminary listing authorities showing a sizeable increase.
Over the past year, house prices have risen by 8.6 per cent, bringing the national mean to $890,178. Similarly, unit prices have increased by 6.7 per cent annually, reaching a nationwide mean of $664,466.
Average West End Sale Prices September 2024
1 bed apartment $487,250 (Low $385,200 High $610,000)
2 bed apartment $759,000 (Low $611,000 High $1,290,000)
3 bed apartment $1,500,000 (Low $1,130,000 High $1,800,000)
House $1,665,000
West End Apartment Data – REA 2/10/2024
West End House Data – REA 2/10/2024
