May Market Update with Tim Lawless

May Market Update with Tim Lawless

Australia’s housing values have recorded the first monthly decline since September 2020. The downturn was driven by larger value falls in Sydney (-1.0%) and Melbourne (-0.7%), while Canberra (-0.1%) recorded its first monthly decline since July 2019. Although housing values continued to rise across the remaining capitals, the growth was not enough to offset the depreciation in the three cities, pushing the combined capitals index -0.3% lower over the month. Comparatively, Australia’s housing values rose 0.5% across the combined regions.

We talk to Tim about the impact of another rate rise, headwinds, and tailwinds impacting the market, and the performance of metro and regional markets for both sales and rents