Property prices double in some areas as national prices near 2022 peak
For a lucky few property owners their asset has doubled in value in just 12 months, while national real estate values overall are hurtling towards their previous peak from April 2022.
Darwin is the most affordable home buyer market in Australia but still has a suburb that has doubled in price in a year. (Image source: Shutterstock.com)
As property prices doubled in a year in a select few places, national property prices are on track to return to positive annual growth within a month.
At the real estate market’s current trajectory, it is on course to record positive 12-month growth by July and surpass their April 2022 peak by January 2024.
Eleanor Creagh, Senior Economist, PropTrack, said housing demand was being bolstered by escalating migration levels and renters trying to e…
