Indicators

Australian Home Prices Stay Strong as RBA Seen Standing Pat

Sydney, Melbourne middle market posting highest growth rate
Reserve Bank expected to keep key rate on hold on Tuesday

WATCH: “It’s getting harder than ever to find a home in Australia with less than 1% of rental properties available for occupancy. That’s sending rents soaring to eye-watering levels, deepening a cost-of-living crunch. Bloomberg’s Kurumi Mori reports.Source: Bloomberg

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By Swati Pandey

October 1, 2023 at 1:01 PM UTC

Updated on

October 2, 2023 at 6:53 AM UTC

This article is for subscribers only.

Australian home prices stayed strong in September, driven by soaring demand and outweighing the impact of the central bank’s aggressive policy tightening campaign.

Sydney prices, the national bellwether, advanced 1%, down slightly from the previous month, property consultancy CoreLogic Inc. said in a report Monday. Adelaide led September’s gains — climbing 1.7%.