Antipodean Housing Deep Dive

Early signs of recovery

Each month we take a graphical deep dive into the Antipodean housing markets.

Housing prices in Australia rose modestly over February. Prices increased in nearly all capital cities and monthly growth has converged across regions. The number of homes listed for sale appears to have peaked around the turn of the year and has since dipped a little.

While some of the increase in housing prices may be seasonal, expectations - and the delivery - of a cash rate cut are likely to have supported home buying activity. We noted last month that the small dip in housing prices in late 2024 was likely to prove short-lived.

Across the ditch in New Zealand, the effects of lower interest rates are starting to show up in housing demand. New housing finance has trended higher, including for housing purchases and building. Monthly dwelling price growth has turned positive in recent months.