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Spring season to test Australia’s housing market

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Spring season to test Australia’s housing market

As the spring selling season is upcoming, the prices on housing market see the steady growth, Associated Press, reports.

In particular, mainland state capitals home prices grew 0.5% this weekend, housing market analysts CoreLogic indicates.

The prices growth in Melbourne amounted to 0.8%, in Sydney it was 0.2% and 0.1% in both Brisbane and Adelaide.

At the same time, it’s no wonder that Sydney has still the most expensive median house price at $850,000, and is followed by Melbourne with its $599,000.

According to CoreLogic expert, Tim Lawless, this situation coincides with the “highest clearance rates in a year as well as low advertised stock levels and a reasonably steady rate of mortgage demand”.

He pointed out that the spring season would test resilience of the housing markets to a slowdown.

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