Spring season to test Australia’s housing market

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Spring season to test Australia’s housing market
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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.