Property markets remain resilient despite high rates

PIPA’s national market update found Perth, Adelaide and Brisbane finishing 2024 with dwelling price gains above 10 per cent, and chair Nicola McDougall noted Sydney sat at record levels despite its first monthly dip since January 2023. Contributors described Melbourne as a buyer’s market after a 1.1 per cent quarterly fall, put Perth’s median house price at $797,184 and Adelaide’s at $790,789, and said vacancies stayed below 1 per cent in many cities.