OFINTEREST

Affordability has played a critical role in driving price growth this year. The lower end of the market remained resilient during the downturn and continues to attract demand as home prices recover. Higher interest rates have prompted buyers to seek homes in areas where property prices are more affordable, effectively boosting demand in these regions. Suburbs with affordable median values, often less than $500,000, have seen signifcant price growth. Riverview, situated east of Ipswich in Queensland, stands out as the suburb with the fastest house price growth in Australia this year, witnessing a nearly 24% increase in median house value to around $446,000. Affordability drew frst-home buyers to this suburb, providing better value than other parts of Ipswich or Brisbane.

In contrast, in Sydney, Melbourne, and Brisbane, the strongest price growth has been observed in pricier suburbs. Most of the rapidly appreciating house values in Sydney are concentrated in relatively expensive areas such as the eastern suburbs, the inner city, and the northern beaches. These areas saw a quick rebound in prices, especially after sharp declines during the downturn.

While median values have increased in most Australian suburbs this year, some regional areas experienced declines. Regional NSW, in particular, saw notable declines in house values. These shifts highlight the varying dynamics across Australia’s diverse property landscape. Despite earlier predictions, the current trends suggest a promising outlook for the housing market, fueled by economic stability, migration, and demand.

7706 NEW ENGLAND HIGHWAY, TENTERFIELD

• Approx. 192.2 hectares / 474.7 acres 13km south from Tenterfeld

• Large frontage to Bluff Creek and Oakey Creek

• Quality grazing country with easy access

• Stock yards, 5 paddocks, 10 dams / springs

If you are in the market for easily accessed quality grazing country with water security that has not been over capitalised, “Willawong” will tick most boxes.

For Sale by Expressions of Interest - Closing 3pm Thursday 5th

Open Home: By Appointment