Dr Nicola Powell

You

four consecutive quarters of house and unit price gains.

But what I would say over the most recent quarter, we have seen house price growth slow by about four times compared to the last quarter's growth.

But what I would say, the growth that we saw in house prices in Brisbane at the end of 2021

was extremely high.

It was the second highest quarterly growth rate on record for the city.

It was into double digits, which is, you know, that's an eye-watering lift in price in just three months.

So we're seeing momentum slow down slightly, but you're comparing it to a very boom quarter, which was the December quarter of 2021.

Yeah, sure.

I mean, the two cities that I would pick out to have the greater strength is Adelaide and Brisbane.

You know, we're still seeing over all these markets power along.

But I think, you know, what we have seen in Adelaide is a little bit of steam has come out of that property market.

It has been a highly competitive market for buyers as we have seen the property choice.

So the availability of stock on the market has really been a problem at a time of heightened demand.

We're still seeing demand remains elevated.

When you have a look at the number of properties sold over the March quarter, it's about 26% higher than the five-year average.

And when you have a look and then compare that to what supply is seeing, when you have a look at total supply on the market, it's 34% below the five-year average for March.

This is one of the deepest declines out of all of our capital cities and really highlights the lack of supply that Adelaide has had.

But the turnaround really has been that we're starting to see supply build and that has been something new in 2022.

So there is a little bit more choice in the market.