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.
15:47
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Quick takeaways
- Despite recent interest rate cuts, the Australian housing market continues to pose significant affordability challenges for young buyers.
- The post-pandemic migration trend towards regional areas is reshaping the housing dynamics, with some markets experiencing robust growth despite urban declines.
Deep dives
Challenges in the Australian Housing Market
The Australian housing market continues to face significant affordability challenges despite recent interest rate cuts from the Reserve Bank of Australia. In February, house prices increased by 0.3%, marking a return to growth following a three-month decline. This uptick indicates that almost all capital cities, apart from Darwin, experienced a rise in property prices, making it increasingly difficult for young Australians to realize the dream of homeownership. With prices having increased by about 4% over the past year, this affirms that, for many, entering the housing market remains a daunting prospect.
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