Australia has secured a position among the top four nations globally for house price growth over the past five years, according to new data from the International Monetary Fund.
Significant growth post-inflation
Data from the IMF revealed that after adjusting for inflation, Australian house prices have seen an increase of over 10% since 2019. This places Australia behind only the US, the United Arab Emirates, and Japan in terms of real house price growth.
Experts predict continued rise
The Australian Financial Review’s latest quarterly property survey anticipated further price increases. A panel of 10 experts forecasts a national growth rate of 5% for the coming year, with Perth expected to lead with a significant 16% increase in 2024, Hotspotting reported.
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