Australian Housing Trends in 2024: Prices Forecasted to Rise, Slower Growth

The forecast attributes this upward trajectory to a combination of factors, including tax cuts, substantial population growth, and challenges in housing supply.

People look at a signboard of a property for sale in Sydney, Australia, on May 5, 2022. Brendon Thorne/Getty Images

Australian housing prices are predicted to increase in the next year, though at a slower pace than in 2023, driven by tax cuts, robust population growth, and sluggish housing supply.

The latest PropTrack Property Market Outlook Report (pdf) predicts a 1-4 percent growth in home prices nationwide, slightly lower than the 5.5 percent growth in 2023.