Welcome to your February 2025 market update, brought to you by @realty, your trusted partner in real estate. In January, @realty transacted over $373 million in property, reflecting the strength of the @realty network.
February Real Estate Market Report
Home prices in most Australian capitals experienced a slight decline last month due to an increase in available properties for sale. The latest PropTrack Home Price Index shows that the national median home price fell by 0.1% in January, marking the second consecutive month of decreases. Notable drops occurred in Hobart (-0.5%), Melbourne (-0.3%), and Sydney (-0.2%), while Brisbane was the only capital to see a modest price increase of 0.1%.
Factors contributing to this downturn include affordability challenges, weaker economic conditions, and a sustained high-interest rate environment, although a potential interest rate cut by the Reserve Bank of Australia (RBA) in February may lead to a brief recovery in prices. Financial markets indicate a 95% likelihood of this cut, which could boost borrowing capacities and enhance buyer confidence, driving renewed demand and price growth. However, affordability constraints may limit the extent of any price increases compared to previous easing cycles.
Despite these recent declines, many markets remain near peak levels, with Brisbane, Perth, and most regional areas experiencing record highs. The ongoing demand for more affordable properties in places like Brisbane and Sydney’s outer regions highlights the shift in buyer preferences. While the overall market shows signs of cooling, the potential for future price growth remains as economic conditions evolve and interest rates potentially decrease.
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