The Daily Aus Why are we still waiting for house prices to drop?
Mar 6, 2025
Tim Lawless, Head of Research at CoreLogic, dives into the Australian housing market's perplexing trends. He discusses the ongoing challenge of homeownership for young Australians as property prices continue to rise despite some interest rate relief. Lawless explains the complexities of housing affordability, regional market dynamics, and the urgent need for increased housing supply. He also sheds light on the impact of upcoming federal elections on housing policies and how rental challenges are shaping the housing landscape.
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February Housing Market Rebound
- Australian house prices rose 0.3% in February across most capital cities.
- This increase follows a three-month period of price drops, indicating a complex market.
Rate Cut Impact
- The February rate cut did not significantly relieve pressure on house prices, which still rose.
- Affordability remains a challenge, as the small rate cut only offers minor savings.
Market Entry Difficulty
- Entering the housing market is likely harder now than 12 months ago due to a 4% price increase nationally.
- However, some markets like Melbourne offer lower prices than a year ago.