Despite ongoing speculation about a market slowdown, Australia’s property market hit a record value of $11.032 trillion in 2024, according to the Australian Bureau of Statistics.
The total value of residential dwellings rose by 0.2% in the final quarter, with the average home price sitting at $976,800. While quarterly growth was modest, experts say signs point to a resilient and growing market.
Herron Todd White’s Kevin Brogan notes that auction activity and clearance rates are rising across most capital cities. Combined with recent interest rate cuts, this is boosting buyer confidence and encouraging early commitments to get ahead of potential price rises.
