00:00Spring selling has seen a surge in auctions and some first home buyers feel they're being
00:16priced out.
00:17We've been to a few auctions now and there's so many people bidding and a lot of investors.
00:22We're selling!
00:23Selling!
00:24And we're sold!
00:25Congratulations and well brought to you folks.
00:28National prices rose 1.1% in October and 6.1% over the year.
00:35The median home value is now almost $873,000.
00:40Perth led the monthly gains followed by Brisbane, Darwin, Adelaide, the regions, Melbourne, Sydney,
00:47Canberra and Hobart.
00:49We've actually created a system where it's more viable for some people to buy a home not
00:54because they're going to live there but to buy it to grow their wealth.
00:59At another open home in Melbourne, investors are on the hunt.
01:03I'm looking to buy an older rundown home and I feel like pairing it with some good quality home renovations
01:09and with the Melbourne market prices driving up, I feel like there's actually some really big opportunities.
01:15Lower interest rates and government incentives for first home buyers will continue driving people back into the market.
01:23With anticipation of at least one more interest rate cut, that could keep house prices elevated into 2026.
01:32In 2026 we'll probably be getting to the end of that rate cutting cycle and so potentially still price rises but a softer pace than what we saw in 2025.
01:42While these happy buyers have managed to get a foot on the property ladder, many others are still hunting for their dream home.
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