Ray White Now - August 2024 | Page 7

Regional unit markets continue to follow trends seen in the regional housing sector . With interest rate cuts not expected until 2025 , interest in regional Australia , especially coastal areas , is likely to further diminish . Victoria ’ s market remains challenged , with an influx of investor properties entering the market , resulting in a 0.2 per cent value decrease this month and minimal annual growth of just 0.3 per cent . Tasmania shows the largest monthly decline at 0.3 per cent , while New South Wales and Northern Territory both recorded a 0.2 per cent monthly drop .
Regional Western Australia , South Australia , and Queensland continue to lead in growth , increasing by one per cent , 0.7 per cent , and 0.6 per cent respectively . Western Australia has reclaimed the top spot in terms of annual change , up 14.6 per cent , followed by South Australia at 13.2 per cent . Affordability remains a key factor for these two markets , with prices among the most accessible in the country .