Eliza Owen

speaker

379 appearances 2 recordings 1 series first heard Nov 2024 last heard May 2025

Eliza Owen’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: Dwelling prices on the rise. Where next? · 2 May 2025 podcast

Uh and at the same time that Brisbane had a massive demand shock and a slow trickle of new properties coming to market.

Victoria was losing people and it's still to to this day remains the state with the most dwelling completions.

So an an a bit of an oversupply, if you like, of property that's kept that price growth down across Victoria at the same time that um Brisbane boomed.

Yes.

So it is a bit of a seesaw effect, which I think comes back to the affordability constraints.

So if you've got people who are looking at making these decisions to move to the Sunshine State, for example, affordability is going to be one of the components in that.

We're now at a position where the median dwelling value in Melbourne is uh a hundred and twenty two thousand less than Brisbane.

So that's where you get people um

reevaluating that decision.

So as you say, in the capital growth trend, um, that's pretty evident.

We uh Brisbane still had a pretty strong uplift over the past year, 7.8%, but that's down from about 17% this time last year.

Uh and as you say, um, you know, Melbourne's market has been a bit subdued, but over the past few months.

It's held up pretty well.

Um, so Melbourne's housing market has now seen three consecutive months of growth.

Not just its relative affordability, but uh the all important February cash rate cut seems to have been a bit of a a catalyst for Melbourne's recovery as well.

I think that interest rates are still very influential, but it seems to be more of a short term sugar hit.

And if you get successive rate cuts, that's gonna have more of an impact.

So for example, we noted in this release for the April data that

The exuberance seems to have come out of the market just a little bit.

You had a point four percent rise in the month of March, that's faded to a point three percent rise in the month of April.

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