Overview

• National home values in Australia rose 0.6% in June for a fifth straight month, lifting the median to A$837,586 and driving annual growth to 3.4%.
• The Reserve Bank of Australia has cut its cash rate twice this cycle to 3.85% and economists see a third reduction locked in for early July.
• Advertised housing supply in Australia remained 5.8% below year-ago levels, sustaining upward pressure on prices despite stretched affordability.
• In the UK, average house prices fell 0.8% month-on-month in June to £271,619, marking the steepest single-month decrease since February 2023 and cooling annual growth to 2.1%.
• Northern Ireland led UK regional gains with 9.7% annual growth in Q2, and northern England outperformed southern regions by 3.1% versus 2.2% as higher stamp duty weighed on demand in the south.