The COVID-19 epidemic (COVID-19) struck five years ago and is still severely damaging the global economy. Australia is not exempt since the country’s home value has grown by 38.4% since March 2020. Although there are still variations along the road, buyers, renters, and investors have continuous chances and obstacles.
The Market Still Shows The Up-and- Down Cycle
The first few months of the epidemic resulted in a estimate of 1.7% drop in house value all throughout the country. Both lockdown constraints and the general economic uncertainties led to this projection. But beginning mid 2020 to April 2022, property values surged by 33.1% due to unparalleled government stimulus accompanied with record-low interest rates and changing migration patterns.
As borrowing rates surged and property value dropped roughly 7.5% the economy suffered a brief collapse. But a fresh cycle of expansion in early 2023 caused house values to spike by 14.5% while stabilizing in the last few months.
Australia’s Housing Market Trends (2020-2025): A visual representation of home value growth, regional vs. capital city trends, house vs. unit price changes, and soaring rental costs post-pandemic.
Enhanced Demand For Houses and Unit Prices:
The epidemic is causing demand for apartments that is driving house values rising by 44.5% instead of unit prices rising by just 20.1%. As recent market cycles made availability more and more challenging, apartments began to attract greater attention.
Regional property markets also showed an amazing surge in values exploding at 56.3% and exceeding capital cities seeing 33.6% gain.
The top cities were Byron Bay (+74.7%), Ballina (+70.8%), and Gympie (+70.3%)., which match the surges in remote work enabled convenience to help Ballina (+70.8%), Byron Bay (+74.7%), and Gympie (+70.3%).
Recently, coastal metropolitan centers of Western Australia as well as rural Queensland towns such Townsville and Rockhampton, Gladstone, have clearly seen increase.
Brisbane, Adelaide, and Perth Lead Capital Growth
At a startling 75.9% increase (+$348,509), Perth boasts the highest surge in home values among all capital cities. Adelaide came second with 73.1% (+$347,092). At $3 64,305 (+68.7%), Brisbane leads the way in the dollar value increase to its median house price. This impressive growth in the housing market reflects a broader trend of increased demand and investment in these cities. Property competition will likely intensify as more individuals seek opportunities in these thriving urban centers, further driving up prices.
Due to the severe lockdowns, Melbourne often lags behind other cities in terms of growth, having only a meager 8.4% increase in home values since 2020. Slowness in the town resulted from changes in people traveling to different cities, less demand from investors, and the rise in individuals looking at homes in other states.
The Australian property market is quite vibrant, but you will need our experts to help you navigate it. Start Your Real Estate Journey with Huddle for property. Our team is well-trained to assist you in picking the most suitable property. Contact us at 480758738 or book a consultation, which will be the most important and the initial step towards achieving your goals.