At a national level, there has been 7% decrease in potential buyers per listing since October 2021. This has weighed on prices, with capital cities seeing a 2% decline on average and regional price growth slowing from its peak in February this year.
However, this is not the case for all regions. Some are still experiencing strong demand and price growth.
The prices of homes in the Wide Bay and Ipswich regions in Queensland increased by 18% and 17% respectively.
With interest rates predicted to increase further over the coming months, we expect prices to continue to decline.
However, it is likely that more affordable regions within South Australia, Western Australia, and Queensland will continue to hold up better.
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