This week's lead
PropTrack's July Home Price Index shows the national median home price slipped 0.3% to $894,000, with houses down 0.4% to $989,000 and units down 0.2%. Darwin was the only capital city to record growth over the month, as interest rate rises and federal budget uncertainty continued to weigh on buyer sentiment across the rest of the country.
realestate.com.au
MacroBusiness
Cotality's preliminary combined capital city clearance rate came in at 53.6% this week, the strongest reading in three weeks but still one of the weakest levels seen in three decades. Vendors are increasingly withdrawing properties from auction rather than risk a public pass-in as the broader price correction spreads across every major capital.
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Cotality's July rental data shows tenants are now paying a record share of their income on rent, even as the market remains extremely tight nationally. Advertised rents rose 0.4% over the month, keeping annual rental growth at a high 5.9% for a third straight month.
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NAB is forecasting the Reserve Bank will leave the cash rate unchanged at 4.35%, even as inflation eases and property values continue to soften across the combined capitals. The bank's outlook suggests borrowers should not expect near-term relief despite the cooling price environment.
Read the full storyrealestate.com.au
New data shows 151 additional suburbs have recorded a median house price above $1 million so far this year, pushing buyers seeking a freestanding home on a large block further into outer and regional areas. The trend highlights how affordability pressure is reshaping where buyer demand concentrates despite the broader price downturn.
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