Prices Rising in 88.4% of suburbs
Despite the rise in inflation and interest rates over the past two years, “nearly all borrowers continue to service their debts on schedule”, according to the latest Financial Stability Review from the Reserve Bank of Australia (RBA).
“Households with lower incomes, including many renters, have felt these budget pressures acutely,” the RBA said.
“Most mortgagors have experienced an increase in their minimum scheduled payments of 30–60% since the first increase in the cash rate in May 2022. Sharply higher housing costs (for borrowers and renters) and broad-based cost-of-living pressures have weighed heavily on the budgets of many households and contributed to very weak consumer sentiment.”
The table lists the number of suburbs analysed, the quarterly rise in number of suburbs and percentage, and the annual rise in number of suburbs and percentage.
Here are some of the key takeaways from the image:
Sydney has the highest annual rise in number of suburbs (551) at 98.6%.
Brisbane has the highest annual rise in percentage (100%).
Regionally, Perth and Adelaide have the highest annual rise in percentage (99.7%).
Now the question is, everything is rising, but what suburb has rose at what %.
Remember: Not any suburb is good to invest and not every good suburb is also good to invest if they have reached to the peak of the cycle.
Published on: 30st April, 2024
Continue Reading
More Market Insights
Breaking News: New 5% Deposit Policy Fast-Tracked for Homebuyers
Big news for anyone hoping to get into the housing market! A significant policy change has been announced that could make homeownership a reality for many more people. The government has fast-tracked a new policy, originally set for January 1, 2026,
Read Insight
Australia’s Fastest Growing Cities in 2024: Melbourne Leads as Regional Growth Slows
Australia’s population hit a record 27,194,500 in June 2024, with a substantial increase of 541,500 residents over the past year. This surge highlights ongoing population trends in both capital cities and regional centres, with some clear winners and
Read Insight
Sydney Ranked 2nd in the World’s Most Expensive Housing Markets
Last week, Demographia released its 2025 International Housing Affordability Survey, revealing that Sydney is now the second most expensive housing market in the world, just behind Hong Kong. The survey examined housing affordability across eight nat
Read Insight
Ready to Build Your Property Strategy?
Speak with our expert buyers agents for tailored advice that aligns with your goals.