House prices in Sydney rise by 30 per cent in one year: CoreLogic data

“By combining these factors with the subtle tightening of credit ratings set for November 1, and
It is highly likely that the housing market will continue to gradually lose momentum. “

Around the rest of the country, the biggest monthly increase was in Brisbane, where the average home value rose 2.8 percent to $ 731,392. In Adelaide, values ​​rose 2.2 percent with the median of a record $ 591,558, while Hobart rose a further 1.9 percent to $ 727,000.

The overall increase came despite house values ​​falling in two markets. The median value of a house in Perth fell 0.1 percent to $ 550,000, while it fell 0.2 percent in Darwin to $ 567,000.

However, regional markets performed better than capitals.

In regional NSW, house values ​​rose 2.2 percent to a median of $ 671,673, while in Victoria they rose 1.9 percent to a new median of $ 555,000.

Property listings tracked by CoreLogic have begun to rise, with more than 47,000 properties put on the market during the four weeks to October 24th. They are now 22.7 percent higher than in the same period last year and 5.2 percent compared to the 5-year average.

“More ads means more choice for buyers and less urgency in their buying decisions. FOMO is likely to remain part of the market, while listings remain so far below average,” said Mr. Lawless.

Lawless said downside risks to the housing sector were rising.

The Reserve Bank Board will meet tomorrow and is expected to announce its abandonment of one of its three main quantitative easing policies. The yield on 3-year Australian bonds rose last week to 0.6 per cent. despite the RBA’s stated policy of trying to keep them at 0.1 percent.

Financial markets expect the Board of Governors to not only drop this policy but also sharply upgrade its financial forecasts. This would mean that it abandons its stated position that interest rates will remain at record levels until 2024.

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