The Australian property market is experiencing significant shifts, with Brisbane overtaking Melbourne and Canberra to become the second most expensive city for housing. New data indicates that property prices in some Sydney suburbs are expected to almost double, continuing the trend of increasing home values. Sydney house prices hit record highs in May, while Brisbane’s average home value has reached almost $1 million. The CoreLogic Home Value Index shows that property prices across Australia have increased for the 16th straight month, with a 0.8 per cent rise in May. Migration has outstripped the building of new homes in New South Wales, creating a demand for housing that is almost double the rest of the country.
Brisbane’s homes now second-most expensive in Australia, with average value of almost $1m https://t.co/5HNirTumBo
Property prices across Australia have increased for the 16th straight month, with CoreLogic data showing an 0.8 per cent increase in May. Here's what property prices look like across the country: https://t.co/IT0hslroR8
While Sydney house prices hit record highs in May, an unlikely city has ranked second with its hefty home costs. https://t.co/pQqutHkeLr
Brisbane’s homes now second-most expensive in Australia, with average value of almost $1m https://t.co/VIN8vi7gtr
🇦🇺 Building A Nightmare ▫Migration has outstripped the building of new homes for decades and created a demand for housing in NSW that is almost double the rest of the country, new figures show ▫@MatthewBenns #frontpagestoday #Australia @dailytelegraph 🇦🇺 https://t.co/8Km34Jwn7x
Brisbane has overtaken Melbourne and Canberra to become Australia’s second most expensive city. https://t.co/WhuHGZLrKE
Home Value Index shows Sydney recovery, and Brisbane takes over from Canberra as the second-most expensive capital city https://t.co/CAsVAlAsH9
Move over Canberra and Melbourne, Brisbane is officially the second most expensive property market in the country and there is no end to price increases in sight: https://t.co/kBgOWCvYRL https://t.co/ofmWIJUzTp
Many prospective home owners are being priced out of the Sydney property market while others are reaping the rewards of growing home values. New data shows the trend is set to continue with property prices in some suburbs expected to almost double. #9News https://t.co/sYIwlRi9wG