Rhondda’s Property News :… as quoted by Terry Ryder leading independent Real Estate Analyst
HOME PRICES UP IN MARCH
Home Prices Up In March CoreLogic’s Home Value Index reported a 0.6% monthly rise in March, the first month-on-month rise since April 2022.
Low advertised stock levels, tight rental conditions and overseas migration have been cited as factors placing upwards pressure on home prices.
Since September of last year, the number of new listings has remained below the average. Every capital city, with the exception of Hobart, has seen a total advertised listing count lower than the five-year average.
All five of the largest capitals have also seen a total listing count lower than the same time last year. As is typical for this time of year, new listings are likely to remain low throughout the cooler months before increasing in the spring.
Despite the low levels of advertised supply, estimates for purchasing activity rose in March. The 10.4% month-on-month increase is smaller than the usual seasonal increase for this time of year, but it was still the highest since May of last year.
