According to the latest update to CoreLogic's home value index, the average price of a property is now sitting at $765,762 – an all-time high that is about $63,000 above what it was in February last year.
"Despite three rate hikes, worsening affordability, and the rising cost of living, the increasingly entrenched undersupply in housing stock, and above-average demand thanks to strong net migration, has helped push values higher." "The same analysis found that 94.2 per cent of the 4,030 house and unit markets analysed recorded an annual rent rise, while nearly 40 per cent saw rental values rise by 10 per cent," Ezzy said.
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