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Exclusive Australian housing market trends: April 2022

Interested to see how the Australian housing market performed in March and April of 2022? Discover the latest in housing market trends.


Australian housing prices


Despite the exponential growth seen in Australian housing prices last year, values are slightly decreasing and flatlining in Sydney and Melbourne.


According to CoreLogic’s March 2022 report, housing values across Sydney remained stagnant for the month. Like Sydney, housing prices dropped by 0.1% for the once thriving city of Melbourne.


Tim Lawless, the research director of CoreLogic, strongly believes that the above-mentioned markets aren’t performing as they were last year due to affordability constraints. In addition to this, Lawless has mentioned these markets may also be subject to the effects of the rising cost of living and more stock coming to the market.


Despite of this insight, housing demand may rise with the return of overseas migration with the reopening of Australian borders. This will encourage those returning to the country to consider buying a house in Australia.


Australian housing prices across other markets


Although the values of houses in Sydney and Melbourne aren’t experiencing much growth, the same cannot be said for Brisbane, Adelaide, Perth, and Hobart. These markets are contributing to positive housing market trends.


According to a recent Domain article, “Brisbane is now Australia’s strongest property market.” In the space of 12 months, the average home has increased by $200,000 in value. In the month of March alone, CoreLogic reported that Brisbane house prices increased by a further 2%. This brought the growth for the quarter to 6.4%.


Currently, Brisbane is the leading Australian housing market
Currently, Brisbane is the leading Australian housing market

Below are some figures that outline how other capital cities performed in the first quarter of 2022, in relation to increased Australian housing prices:


Adelaide: 5.7% increase

Hobart: 2.7% increase

Canberra: 3.1% increase

Perth: 1.9% increase


*These figures come from CoreLogic*


Other housing market trends


Increasing unit demand


As lockdown measures have lifted across the country, unit demand is outstripping that of houses. With the return of overseas arrivals and students occupying inner-city apartments, unit enquiries have risen by 16.6% (compared to a year ago). During this time, house enquiries have fallen by 4.4%.


According to a report by realestate.com.au, the last time that unit enquiries were as high as they currently are, was at the beginning of 2020. This was before strict lockdown measures started to confine the country.


The demand for units amongst the Australian housing market is expected to rise throughout the year. Factors that are set to contribute to this housing market trend include; students and migrants returning, the reopening of offices, and units being more affordable in comparison to buying a house in Australia.


First home buyers to benefit from extended housing incentive


Buying a house in Australia is becoming easier due to the Federal Government’s 2022-2023 Budget. Extended housing incentives were introduced to first-home buyers under the Home Guarantee Scheme. First-home buyers are set to benefit from the extension of the following categories:


  • First Home Guarantee Scheme


First home buyers who are eligible under this scheme will still be able to enter the market with a 5% deposit (with the Government securing the rest of the deposit). Additionally, they’ll avoid paying lenders mortgage insurance.


  • The Family Home Guarantee Scheme


This scheme will allow 10,000 single parents of dependent children to enter the market with a 2% deposit. The Family Home Guarantee Scheme was first introduced last year.


To read more about what’s involved, we recommend reading this article we wrote when it first came out.


  • Regional Home Guarantee


Eligible new home buyers in regional locations will avoid paying lenders mortgage insurance and will only need to pay a 5% deposit under this scheme.

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