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
Luke O’Kelly is a real estate agent and auction specialist at Ray White West End, focused on property sales in West End and Highgate Hill. Through Luke O’Kelly Ray White West End, he helps property owners achieve strong results using an auction-led strategy designed to create competition and maximise sale prices. With deep local market knowledge and a hands-on approach, Luke shares insights, sales strategies and suburb updates to help sellers make informed decisions and achieve the best possible outcome.