Australian property prices are on track to see an increase of up to 5% in 2024 following an already robust growth of 2.7% from January to May, according to PropTrack’s Property Market Outlook Report for June.

The report highlighted significant regional disparities in property price growth.
Perth continues to lead with a staggering 18.9% increase over the current financial year, with an additional 8% to 11% growth expected in the 2024-25 financial year.

Other major cities are also showing positive trends, with Brisbane, Sydney, and Melbourne expected to see price rises between 3% and 6%. Adelaide’s market is projected to grow by 5% to 8% in FY25 after a 12.9% increase this financial year.

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