Melton 
The housing boom has continued across Australia in May with a rise in prices of approx. 2.2%, 10.6% higher than the same time last year. CoreLogic head of research Tim Lawless said improving economic conditions and low interest rates were boosting consumer confidence and creating “persistently strong demand for housing”.
“At the same time, advertised supply remains well below average,” he said, in a statement that described such a broad-based boom as “an absolute rarity”.
“This imbalance between demand and supply is continuing to create urgency amongst buyers, contributing to the upwards pressure on housing prices.”
Purchasers are taking advantage of the low interest rates, with experts not expecting a huge change on interest rates until 2024.
