Aussie Peter Corta

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Australian property markets rose 1.2% collectively in May, the third consecutive monthly increase! This comes as a result of continuously low levels of housing supply and increasing demand.

Here’s how each major city has performed.
Sydney 1.8%
Melbourne 0.9%
Brisbane 1.4%
Adelaide 0.9%
Perth 1.3%
Hobart 0.5%
Darwin 0.4%
Canberra 0.4%

Source: CorelogicAU Hedonic Home Value Index

The monthly consumer price index now sits at 6.8% in the 12 months to April. This is an increase from 6.3% recorded in March. Housing inflation outpaced the CPI all groups rate, rising 8.9% in the same period.

With the RBA set to meet again on Tuesday the 6th of June, how do you predict this data will impact their decision?

Source: ABS Monthly Consumer Price Index Indicator April 2023