The Australian housing market is experiencing a significant resurgence as house prices continue to soar, fuelled by various factors, including rising demand from international buyers and a surge in migration.
According to Forbes, Australian house prices have been steadily climbing, reaching new heights in recent months. CoreLogic, a leading property data and analytics provider, supports this finding, revealing that Australia’s capital cities have recorded the strongest annual rental increase in history. The demand for rental properties has been consistently high, contributing to the overall growth of the market.Â
Home sales are on a growth trajectory as well, with key cities listing positive numbers. Sydney, for instance, ranked ninth in the world for sales of properties valued at AUD10 million and above, as per realestate.com.au. This demonstrates the high demand for luxury properties in the city.Â
Notably, the Gold Coast has emerged as one of the most sought-after regions in Australia, with homes in the area receiving high levels of attention from potential buyers. Realestate.com.au noted that Gold Coast homes are among the most viewed properties across the country, emphasising the growing popularity of this coastal city.Â
Source : AsiaPropertyAwards