00:00 Chelsea Vladeck has been searching for a home in Hobart for two years.
00:07 I think on a nurse and a teacher wage, we're finally getting there.
00:12 Hobart's home prices are lower than this time last year, but the latest data shows prices
00:17 are rising again.
00:19 Nationally, property prices are just off last year's peak, having risen 0.9% in October.
00:26 The gains were driven by Perth, with a jump of 1.6%, as well as Brisbane and Adelaide,
00:32 where prices also rose more than a percent.
00:35 Darwin was the only capital city to record a loss.
00:39 Nationally, prices have risen 5.6% in the last 12 months.
00:44 I think it's only a matter of weeks before national home values reach record highs.
00:49 They're only half a percent off at the moment.
00:52 The spring selling season saw a 5% lift in properties for sale.
00:56 There's still a bit of a shortage of property on the market at the moment, so the properties
01:00 that do come on are hotly contested right now.
01:02 Supply is most restricted here in Perth.
01:06 The city posted a fall in the number of properties available during spring.
01:11 The number of homes available here is almost half the five-year average, while the number
01:16 of buyers is well above average.
01:18 So prices have risen at their fastest pace since March 2021.
01:23 Elsewhere the momentum is easing.
01:26 Nationally we've seen quarterly growth slow from about 3.5% in the June quarter to just
01:32 over 2% in the three months to October.
01:35 The sellers of this property want to make the most of the high prices while they can.
01:40 There's been lots of people coming through, so it's just about finding the right buyer
01:45 I suppose.
01:46 The Reserve Bank is widely tipped to hike interest rates next week.
01:50 Experts predict that will lead to a further cool-down in prices.
01:54 [BLANK_AUDIO]
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