Cairns Property News - April 2022

So the real estate price growth has slowed down in the capital cities but regional Australia continues to have some momentum, but for how long? 

The first quarter of the year has seen Australian dwelling values rise by 2.4%, adding approximately $17,000 to the value of an Australian dwelling. A year ago, values were rising at more than double the current pace, up 5.8% over the three months to March 2021 before the quarterly rate of growth peaked at 7.0% over the three months ending May 2021. Mr Lawless from Core Logic said the annual growth trend will fall sharply in the coming months.

Regional Australia continues to show some resilience to a slowdown with housing values across the combined regional areas rising at more than three times the pace of the combined capital cities through the March quarter. Regional dwelling values increased 5.1% in the three months to March, compared with the 1.5% increase recorded across the combined capital cities. The rolling quarterly growth rate in regional dwelling values has consistently held above the 5% mark since February 2021.

Source: CoreLogic Home Value Index April 2022

Some factors likely to effect the market soon are interest rates rising (predicted in August), the upcoming Federal Election tends to take the energy out of the property market for some unknown reason, and the current cost of living with recent petrol and grocery price hikes tends to inhibit spending on property too.

As always, if you have any questions about #CairnsRealEstate, feel free to give me a call.

Daniel Sheehan
Selling real estate properly for you

0409 265 326