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House Prices Could Soar over 2024-25!

Updated: Dec 1, 2023

A new report produced by research firm KPMG forecasts house prices to surge over the next two tears, with a rise nationally of 4.9% over the next nine months and then another 9.4% in the year to June 2025.

KPMG’s property report on Australia’s capital cities speculates that apartment prices across the country will see an average rise of 3.1% by next June, followed by a 6% increase in the next 12 months.

And as we’ve been forecasting over at Cycles, Trends & Forecasts over the last few years, the report highlights that Perth, the mining capital of Australia, will capture the greatest gains — with a rise of 8.4% over the remainder of the financial year.

But then suggests that Hobart will overtake other cities in FY25 and rocket northwards by 14.2%.

They also say that Hobart units will outperform all other capital cities with rises of 8.7% and 10%, respectively, over the next two years, followed by Sydney, Melbourne, and Adelaide.

KPMG detail a number of drivers behind the increase, specifically limited supply and high demand coming from record rates of immigration.

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