Sydney pricing adjustment in June was mild at circa 2.0%,although vacancy has reached its highest level in 17 years.
Melbourne recorded the greatest falls in median prices in June, and the second wave of COVID 19 and associated restrictions will likely see recovery lag other markets.
Brisbane continues to present itself as a significantly more affordable residential market in comparison with Sydney and Melbourne and is well place to capitalise when border restrictions ease.
Perth’s declining vacancy remains the highlight, dropping to 2.0% in June, a level last seen in 2012.
Adelaide continues to show mixed performance, with softer levels of demand across both the house and apartment sectors.
Canberra was the only state/territory to record a positive economic performance over the year to June, continuing to provide a solid base supporting the residential market.