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As of the December quarter of 2023, housing affordability in New South Wales, Victoria, South Australia, Tasmania, and the Australian Capital Territory have been all at their lowest in 20 years. In the past 12 months (to the December quarter of 2023), the weighted average capital city Australian median house price grew by 5.3% to $$1,005,242, maki…

Australia’s economy is entering a new phase following 12 consecutive cash rate hikes since May 2022. With the cash rate currently in a ‘hold’ pattern (at 4.1%), there is a multiplier effect on all facets of life. How does this impact the property market for the rest of 2023 and early 2024? And is the cash rate the only issue?

The PRD Affordable and Liveable Property Guides 2nd half 2023 are available for Brisbane, Sydney, Melbourne, Hobart, Gold Coast, and Perth. These guides provide valuable insights on property trends and how current economic conditions (including cash rate hikes) have impacted the market, as well as future developments for the next 6 months. For tho…

In Q3 2023, Port Stephens recorded a median house price of $1,050,000, and a median unit price of $645,000. This is an annual (Q3 2022 – Q3 2023) -2.6% softening for houses and growth of 7.5% for units. Sales increased between Q3 2022 – Q3 2023, by 12.9% (to 70 sales) for houses and by 50.0% for units (to 66 sales). A softer median house price dow…