Housing Prices Hit New Highs in June Amid Falling Interest Rates

Housing prices reached a new peak in June, driven by declining interest rates that boosted market confidence. The latest home value index from property research firm CoreLogic showed a fifth consecutive month of growth, with national dwelling values increasing by 0.6 percent. This followed a 0.3 percent decline over the summer months.

Every capital city except Hobart experienced rises in property values during June, with Hobart seeing a slight dip of 0.2 percent.

Interestingly, the trend that saw regional markets outperforming capital cities earlier in the year reversed in June. Major cities recorded higher growth rates, with Darwin leading the way at 1.5 percent growth, largely due to its relative affordability and easier access for investors compared to other capitals.