What will happen to house prices in 2025? | The Business | ABC NEWS

Much of Australia is turning into a buyers' market, with house prices expected to fall nationally in early 2025. Sydney property values have been coming down since October, while prices have been declining in Melbourne for 10 of the past 12 months. At auctions, properties aren't meeting the reserve price and agents are having to work harder to close the deal. More properties are on the market and they're taking longer to sell. CoreLogic head of Australian research, Eliza Owen, says she wouldn't be surprised to see a cyclical decline at the start of the year that could be offset by a reduction in the cash rate. The RBA meets in February to consider interest rates. Price growth in the mid-sized capital cities have been holding up the national housing market, with Perth, Adelaide and Brisbane recording the strongest gains in 2024. SQM Research founder and managing director, Louis Christopher, says Perth is a sellers' market and he's forecasting prices to rise between 14-19 per cent in 2025. Property experts say the rental boom looks to be over, with prices rising at their slowest rate in more than three years. For this special program on housing, Alicia Barry spoke to Eliza Owen from CoreLogic, Louis Christopher, Ray White chief economist Nerida Conisbee, BresicWhitney chief executive Thomas McGlynn and auctioneer Clarence White, plus the team interviewed a number of real estate agents across Australia. #ABCBusiness 00:03 - Much of Australia is turning into a buyer's market 01:23 - The rental boom could be over 01:58 - Adelaide housing market 02:45 - Perth property boom 03:36 - Brisbane housing market 03:39 - National property market 05:51 - Sydney property market 06:40 - Sydney clearance rates and buyer tips 07:47 - Tips and advice for sellers 10:25 - Interview with CoreLogic's Eliza Owen on national trends 16:18 - Australia's rental market and interview with BresicWhitney CEO Thomas McGlynn with tips for renters and landlords 22:51 - Interview with Ray White chief economist Nerida Conisbee on the outlook for 2025 Subscribe: https://ab.co/3yqPOZ5 Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel: https://www.youtube.com/user/NewsOnABC Like ABC News on Facebook: http://facebook.com/abcnews.au Follow ABC News on Instagram: http://instagram.com/abcnews_au Follow ABC News on Twitter: http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia