PRICE MOVEMENTS
Property markets have been a bit lacklustre since May last year when interest rates began their quick march upwards . Price growth began at the start of the year , however the number of new listings continued to fall . This month , however , we ’ re seeing the number of properties coming to market begin to increase , setting us up for a much better spring selling season .
Part of the increase has been due to the return to price growth , making sellers far more confident . All capital city and regional markets are now recording year on year price growth . Perth and Adelaide are moving the quickest , with prices up over five per cent over the past 12 months . Even the slowest moving markets , Melbourne and Hobart , are up . Prices took a bit of a stumble in July , likely driven by the surprise June interest rate rise . However , at this point , it does look like price growth is firmly entrenched .
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