Home prices in Sydney, Brisbane, Adelaide, and Perth have soared to new records, according to PropTrack’s weekly economic update.
May witnessed significant increases, with Perth leading the growth at almost 1% for the month, marking a 21% rise from May 2023. Brisbane and Adelaide also showed strong performance, with annual increases around 14%.
Despite an increase in new listings across major cities, robust demand has swiftly absorbed the additional supply, propelling further price growth.
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