Wealth PI Research
Residential Property Market Report
2024 Q4
The Australian housing market concluded 2024 on a subdued note, with the CoreLogic Home Value Index (HVI) recording a slight 0.1% decline in December. After a period of robust early-year momentum, the latter half of the year saw major capitals such as Sydney and Melbourne experience declines of 1.4% and 1.8% respectively, while mid-sized capitals like Perth, Adelaide, and Brisbane continued to post modest gains despite signs that their annual growth rates were tapering. Notably, the most affordable market segments outpaced higherend properties, with values in the lower quartile rising nearly 10% over the year compared to a modest 1.5% increase in the upper quartile.
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