Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Comments
Bookmark
Share
Add to Playlist
Report
House prices fall for second month, but economists expect brief dip with interest rate cut ahead
ABC NEWS (Australia)
Follow
2/1/2025
House prices nationwide have fallen for a second consecutive month. However, with an interest rate cut on the horizon – potentially as soon as this month – economists say the dip in prices is likely to be short-lived.
Category
📺
TV
Transcript
Display full video transcript
00:00
Brisbane is bucking the trend.
00:07
It's the only Australian capital city to see a lift in home prices in January,
00:13
up over 10 per cent from last year and a whopping 78 per cent since March 2020.
00:20
We have continued to see above average population growth into south east Queensland,
00:25
strong demand fuelled by investor activity, of course the Olympic Games as well and infrastructure investment.
00:31
Nationally, home prices fell by 0.08 per cent in January, but are nearly 4 per cent higher for the year.
00:39
Melbourne experienced a sharp drop in the past year.
00:43
The median dwelling price there is now $779,000.
00:48
Home prices in other states and territories have been steady,
00:52
while Perth, Adelaide and Brisbane have seen growth over the past 12 months.
00:57
Rising house prices from about 2022 through 2024 were a major contributor to the cost of living crisis,
01:07
as were increases in rents.
01:10
Economists are predicting a modest interest rate cut this month,
01:14
leading to a small upswing in house prices over the next six months.
01:19
Off the back of big gains since the pandemic, housing affordability is likely to remain a problem.
01:26
If you look at the ratio of average house prices to median household income,
01:32
that ratio has gone from about three times 40 years ago to now up around eight times.
01:38
So while some of the heat has come out of the property market in recent months,
01:42
home ownership is likely to remain out of reach for many.
Recommended
0:24
|
Up next
Crystal Papali'i strip and score
The Canberra Times
3 days ago
1:45
Economists are predicting a rate cut when the RBA meets next week
ABC NEWS (Australia)
2/12/2025
3:01
House prices rebounded in month interest rates were cut
ABC NEWS (Australia)
3/3/2025
0:39
U.S. Producer Prices Rise 0.2% In October, As Fed Weighs Rate Cuts
Benzinga
11/16/2024
1:40
House prices continue to rise despite higher interest rates, inflation, and cost of living
ABC NEWS (Australia)
3/1/2024
1:45
Data shows economy grew by 0.2% in December quarter
ABC NEWS (Australia)
3/6/2024
1:39
Will there be a February rate cut? Macro-economics says unemployment is key
ABC NEWS (Australia)
1/26/2025
2:37
Property prices rose 1% nationally in the September quarter
ABC NEWS (Australia)
10/1/2024
0:46
Why Donald Trump's tariffs are set to make UK mortgages cheaper
Yorkshire Post
4/9/2025
0:34
Consumer Prices Dip for First Time Since 2020, But Trump’s Tariffs Could Soon Reverse Gains
Benzinga
4/11/2025
0:38
European Central Bank Set to Maintain Record High Interest Rates, Investors' Rate-Cut Expectations Premature
Benzinga
1/25/2024
2:11
Core inflation falls to 3.2% making February rate cut more likely
ABC NEWS (Australia)
1/8/2025
1:36
Report predicts house prices to rise nationally by up to 4% in 2025
ABC NEWS (Australia)
11/26/2024
0:35
Wholesale Prices Up 0.2% in October, Aligning With Market Forecasts
Benzinga
11/15/2024
1:48
Australian renters face all-time high rents and record low vacancy rates after prices ump in March quarter
ABC NEWS (Australia)
4/11/2024
2:15
House prices have dropped but they are not more affordable
ABC NEWS (Australia)
11/13/2022
1:49
Signs rental market has peaked as price growth slows
ABC NEWS (Australia)
1/15/2025
0:44
Nationwide: House price growth stalled in March ahead of stamp duty hike
Yorkshire Post
4/1/2025
0:38
New Homes in High Demand as Existing Home Sales Decline
Benzinga
8/25/2023
1:28
Mortgage rates today: How the Fed's May decision could shape the summer market
Insider
5/9/2025
0:33
U.K. Inflation Falls To 1.7% in Sept, Spurs Hopes For BOE Rate Cut
Benzinga
10/16/2024
4:43
National property prices drop for first time in almost two years
ABC NEWS (Australia)
1/2/2025
0:41
Fed’s Key Inflation Gauge Rises More Than Expected, Dampening Hopes for Rate Cuts
Benzinga
3/31/2025
1:55
Reserve Bank interest rates on hold in December meeting
ABC NEWS (Australia)
12/10/2024
1:05
House market favours buyers as asking prices rise more slowly than usual, says Rightmove
Yorkshire Post
10/21/2024