PropTrack Home Price Index Analysis for September 2024

This technical report presents the findings of the PropTrack Home Price Index for September 2024, detailing the trends in home prices across various Australian capital cities. The report indicates that national home prices increased by 0.04% in September, marking a 5.67% rise compared to the previous year. It highlights the varied performance in different markets, with Adelaide, Perth, and Brisbane showing the strongest growth, while Melbourne and Hobart experienced declines. The report outlines factors influencing these trends, including increased housing supply, buyer demand, and economic pressures such as high interest rates and affordability constraints. Additionally, it describes the methodology used for calculating the index, which combines repeat sales and hedonic regression techniques to ensure accurate measurement of housing price movements. The report concludes with insights into the expected market trends as the spring selling season progresses.