Latest news with #homevalues
Yahoo
2 days ago
- Business
- Yahoo
10 California Cities Where Home Prices Are Surging in 2025
Swaths of California are seeing housing prices drop, thanks largely to the combination of increased inventory and sky-high interest rates. Even markets that are typically somewhat immune to general trends and consistently robust — like Mountain View and San Diego — have softened over the past year. But there are still plenty of places in the Golden State where real estate prices are climbing. Find Out: Read Next: Consider the following 10 cities in California where home prices are surging. Most of these cities are already really expensive for housing, so even a seemingly modest increase in value can add well over $100,000 to a home's price. 10. Pasadena Average home value in June 2025: $1,216,844 Increase in value (percentage) year-over-year: 1.8% Increase in value (dollars) year-over-year: $21,516 Explore More: 9. Bakersfield Average home value in June 2025: $398,238 Increase in value (percentage) year-over-year: 2.0% Increase in value (dollars) year-over-year: $7,809 8. Torrance Average home value in June 2025: $1,184,834 Increase in value (percentage) year-over-year: 2.1% Increase in value (dollars) year-over-year: $24,370 7. Palo Alto Average home value in June 2025: $3,576,394 Increase in value (percentage) year-over-year: 2.2% Increase in value (dollars) year-over-year: $76,987 6. Visalia Average home value in June 2025: $395,417 Increase in value (percentage) year-over-year: 2.3% Increase in value (dollars) year-over-year: $8,890 5. Mission Viejo Average home value in June 2025: $1,212,384 Increase in value (percentage) year-over-year: 2.5% Increase in value (dollars) year-over-year: $29,570 4. Dana Point Average home value in June 2025: $1,690,917 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $58,758 3. Cupertino Average home value in June 2025: $3,083,634 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $111,011 2. Newport Beach Average home value in June 2025: $3,457,389 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $120,141 1. Saratoga Average home value in June 2025: $4,024,743 Increase in value (percentage) year-over-year: 4.4% Increase in value (dollars) year-over-year: $169,625 More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on 10 California Cities Where Home Prices Are Surging in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
10 California Cities Where Home Prices Are Surging in 2025
Swaths of California are seeing housing prices drop, thanks largely to the combination of increased inventory and sky-high interest rates. Even markets that are typically somewhat immune to general trends and consistently robust — like Mountain View and San Diego — have softened over the past year. But there are still plenty of places in the Golden State where real estate prices are climbing. Find Out: Read Next: Consider the following 10 cities in California where home prices are surging. Most of these cities are already really expensive for housing, so even a seemingly modest increase in value can add well over $100,000 to a home's price. 10. Pasadena Average home value in June 2025: $1,216,844 Increase in value (percentage) year-over-year: 1.8% Increase in value (dollars) year-over-year: $21,516 Explore More: 9. Bakersfield Average home value in June 2025: $398,238 Increase in value (percentage) year-over-year: 2.0% Increase in value (dollars) year-over-year: $7,809 8. Torrance Average home value in June 2025: $1,184,834 Increase in value (percentage) year-over-year: 2.1% Increase in value (dollars) year-over-year: $24,370 7. Palo Alto Average home value in June 2025: $3,576,394 Increase in value (percentage) year-over-year: 2.2% Increase in value (dollars) year-over-year: $76,987 6. Visalia Average home value in June 2025: $395,417 Increase in value (percentage) year-over-year: 2.3% Increase in value (dollars) year-over-year: $8,890 5. Mission Viejo Average home value in June 2025: $1,212,384 Increase in value (percentage) year-over-year: 2.5% Increase in value (dollars) year-over-year: $29,570 4. Dana Point Average home value in June 2025: $1,690,917 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $58,758 3. Cupertino Average home value in June 2025: $3,083,634 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $111,011 2. Newport Beach Average home value in June 2025: $3,457,389 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $120,141 1. Saratoga Average home value in June 2025: $4,024,743 Increase in value (percentage) year-over-year: 4.4% Increase in value (dollars) year-over-year: $169,625 More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on 10 California Cities Where Home Prices Are Surging in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
10 California Cities Where Home Prices Are Surging in 2025
Swaths of California are seeing housing prices drop, thanks largely to the combination of increased inventory and sky-high interest rates. Even markets that are typically somewhat immune to general trends and consistently robust — like Mountain View and San Diego — have softened over the past year. But there are still plenty of places in the Golden State where real estate prices are climbing. Find Out: Read Next: Consider the following 10 cities in California where home prices are surging. Most of these cities are already really expensive for housing, so even a seemingly modest increase in value can add well over $100,000 to a home's price. 10. Pasadena Average home value in June 2025: $1,216,844 Increase in value (percentage) year-over-year: 1.8% Increase in value (dollars) year-over-year: $21,516 Explore More: 9. Bakersfield Average home value in June 2025: $398,238 Increase in value (percentage) year-over-year: 2.0% Increase in value (dollars) year-over-year: $7,809 8. Torrance Average home value in June 2025: $1,184,834 Increase in value (percentage) year-over-year: 2.1% Increase in value (dollars) year-over-year: $24,370 7. Palo Alto Average home value in June 2025: $3,576,394 Increase in value (percentage) year-over-year: 2.2% Increase in value (dollars) year-over-year: $76,987 6. Visalia Average home value in June 2025: $395,417 Increase in value (percentage) year-over-year: 2.3% Increase in value (dollars) year-over-year: $8,890 5. Mission Viejo Average home value in June 2025: $1,212,384 Increase in value (percentage) year-over-year: 2.5% Increase in value (dollars) year-over-year: $29,570 4. Dana Point Average home value in June 2025: $1,690,917 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $58,758 3. Cupertino Average home value in June 2025: $3,083,634 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $111,011 2. Newport Beach Average home value in June 2025: $3,457,389 Increase in value (percentage) year-over-year: 3.6% Increase in value (dollars) year-over-year: $120,141 1. Saratoga Average home value in June 2025: $4,024,743 Increase in value (percentage) year-over-year: 4.4% Increase in value (dollars) year-over-year: $169,625 More From GOBankingRates 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on 10 California Cities Where Home Prices Are Surging in 2025
News.com.au
14-07-2025
- Business
- News.com.au
$108k drop: Where home values declined across Australia
Nearly 200 Aussie suburbs recorded a drop in home values over the past three months, including two where home values plunged by over $100,000. The latest PropTrack June Quarterly Home Values Index shows that 192 of Australia's 3762 house suburbs dropped in value, while 168 of the nation's 1888 unit markets also declined. Units in Lalor Park in the Sydney-Blacktown region was the worst performing market in the last quarter, declining by 17 per cent in the three months to June, or $104,066. The median unit price there is now $514,808. It was followed by Fairfield East (Sydney-Parramatta), where unit values plunged 9 per cent to $596,272 and Lisarow on the NSW central Coast, where unit values fell 8 per cent. Rounding out the top 10 worst performing units markets were Pelican Waters (Qld), Melrose Park (SA), Broadwater (WA), Wyoming (NSW), Huntingdale (Vic), Tregear (NSW) and Ocean Grove (Vic). Each suburb recorded declines of 5 per cent to 6 per cent in the past three months. Over the year, the worst performing market was Banksmeadow in NSW, where unit values plunged by 28 per cent. Lalor Park came in second, followed by Terrigal (NSW), Claremont (WA), Cottesloe (WA), Fairfield East (NSW), Telopea (NSW) South Granville (NSW), Yennora (NSW), Jordan Springs (NSW), Crace (ACT) Jindabyne (NSW) Red Hill (ACT) Huntingdale (Vic) and Rippinlea (Vic). Those suburbs recorded annual falls north of 10 per cent. But while NSW dominated the top worst performing suburbs for units over the quarter, other suburbs made up for the losses elsewhere. Units in Ashcroft, Wahroonga, Belrose, Cartwright and Sadlier all jumped by 10 per cent or more in just three months, as affordable pockets under Sydney's lofty median price of $1.182m captured buyers. REA Group Senior Economist Anne Flaherty said the double digit increases were an 'enormous' jump for such a short period of time. 'That is absolutely out of the ordinary,' she said. 'Particularly we are seeing that those suburbs that are relatively more affordable are attracting a high level of competition. 'The reality is because the median price of a home in greater Sydney is so high, for a lot of people that are looking for a middle ring suburban Sydney home, it's just not even a possibility.' Meanwhile, the worst performing house market was Point Lookout in Queensland, where home values fell 6 per cent, or $108,173, to $1,768,325. It was followed by Quindalup (WA) and Lorne (Vic) where house values declined by 5 per cent. That represents a drop in values of $93,124 and $97,061 respectively. Seven suburbs recorded a decline of 4 per cent - Hyde Park (SA), Jamberoo (NSW), Apollo Bay (Vic), Berrimah (NT), Nar Nar Goon North (Vic), Byron Bay (NSW) and Cardigan (Vic). But over the year, the biggest drop in house values was recorded in Nar Nar Goon North (Vic), Blairgowrie (Vic), Jilliby (NSW) and Rye (Victoria). House values in those suburbs declined by 10 per cent, the data shows. They were followed by celeb haven Byron Bay in NSW and Bangholme in Victoria, where values fell by 9 per cent in the 12 months to June. Falls of 8 per cent were recorded in Lorne (Vic) and Shoalhaven Heads (NSW). Eleven suburbs recorded annual declines of 7 per cent including seven in Victoria (Venus Bay, Sorrento, Fingal, Tootgarook, Ballarat Central, Soldies Hill, Lake Wendouree and Eden Park). Also making that list were Suffolk Park (NSW), Margate (Tas) and Craiglie (Qld). On the flip side, Australia is now home to 1418 house suburbs with a median value over $1 million. That means that 107 Aussie suburbs have joined the $1 million-plus club in the past three months alone. Top of the list is Bellevue Hill in Sydney, where the median house price is now $9,844,492, followed by Vaucluse with $8,983,846. With a median house price of $4,500,128, Toorak in Victoria's most expensive suburb, while Cotteslow is Western Australia's richest suburb with a median house value of $3,442,198. Queensland's most expensive suburb is Chandler ($3,149,155) and St Peters in Adelaide is South Australia's richest suburb with a median house value of $2,226,612. Brisbane median home price recently surpassed the $1 million mark for the first time, finishing the month of June at $1.015 million – an increase of $74,800. It is now Australia's second most expensive capital city after Sydney. Ms Flaherty said that it was inevitable that more Queensland suburbs would enter the $1 million-plus club. There are currently 54 Queensland suburbs with median house values north of $950,000. TOP 10 WORST PERFORMING SUBURBS (June Qtr) - UNITS (Suburb, Median Value Now, % Decline) Lalor Park NSW $514,808 -17% Fairfield East NSW $596,272 -9% Lisarow NSW $687,646 -8% Pelican Waters QLD $754,912 -6% Melrose Park SA $619,621 -6% Broadwater WA $468,229 -6% Wyoming NSW $577,845 -6% Huntingdale VIC $649,274 -5% Tregear NSW $536,014 -5% Ocean Grove VIC $743,563 -5% *** TOP 10 WORST PERFORMING SUBURBS (June Qtr) - HOUSES (Suburb, Median Value Now, % Decline) Point Lookout QLD $1,768,325 -6% Quindalup WA $1,633,997 -5% Lorne VIC $1,793,274 -5% Hyde Park SA $2,049,592 -4% Jamberoo NSW $1,429,284 -4% Apollo Bay VIC $913,941 -4% Berrimah NT $556,619 -4% Nar Nar Goon North VIC $781,667 -4% Byron Bay NSW $1,737,446 -4% Cardigan VIC $827,810 -4%
News.com.au
11-07-2025
- Business
- News.com.au
Melbourne houses tipped to hit new high by Christmas
Melbourne's property market has been tipped to reach a record high by Christmas after a rise in home values across hundreds of suburbs since April. PropTrack's latest quarterly home figures show it's battler 'burbs like Frankston North and Brooklyn leading the city's price charge. Inner-city pockets including Collingwood and Parkville were also among the top performing areas as almost 380 suburbs recorded an uptick in the past three months. Shock way Melbourne is more affordable than itself five years ago And with forecasts of further rate cuts, despite the Reserve Bank's shock hold decision this week, fuelling price rise confidence it's helping to drive expectations that Greater Melbourne's $979,979 median house value could top seven-figures before December. PropTrack senior economist Anne Flaherty labelled the numbers 'a bit of a comeback for Melbourne' and said more was on the way as FOMO, the fear of missing out, creeps back into the market. 'I actually do think that home prices in Melbourne will hit a new record high by the end of the year, just based on the rate at which we're growing at the moment,' Ms Flaherty said. 'I think there's a very real possibility that we could get there.' FIND OUT WHAT YOUR HOME IS WORTH Search what your home is worth now PropTrack's data showed Melbourne's median house value was 1.6 per cent higher in June compared to 12 months earlier, with the Reserve Bank's two rate cuts this year helping to boost competition in the market. 'And I think from the perspective of buyers, we're sort-of seeing a bit of evidence of FOMO,' Ms Flaherty added. Prominent Melbourne-based buyers' advocate Cate Bakos agreed it was likely the city's median house value would surge to a new high by the year's end. 'I am experiencing record high inquiry and also many interstate investors committing to working with me, it hasn't been this hectic since 2021,' Ms Bakos said. 'Any suburbs offering houses on freehold in the sub-$1m market are experiencing high rates of competition.' The buyer's agent said she did not believe the RBA's decision to leave interest rates on hold this week would diminish buyer sentiment, with most people were expecting further rate cuts later in 2025. Across the June quarter, Melbourne's top suburbs for median house value growth achieved figures between 4 per cent and 5 per cent. They included Glen Huntly, which now has a $1,507,058 median, Wandong, $871,817, Braeside, $1,530,522, Williamstown North, $1,143,023, and Frankston North, $603,715. For purchasers seeking a smaller residence, Wallan in Melbourne's outer north performed best for units with median prices zooming up 10 per cent to $483,070. In regional Victoria, houses in the East Gippsland town of Orbost increased 8 per cent to hit $350,875 and Castlemaine units soared 9 per cent to $647,860. Closer to the Victorian capital, OBrien Frankston's Mark Burke said first- and second-home buyers, retirees and investors were among those trying to secure homes in Frankston North. He said this was thanks to the area's proximity to the beach and top-notch community infrastructure such as public transport, schools, shops and sports clubs. In June, the suburb's median house price stood almost $22,000 higher than three months prior. Mr Burke said the 'sizzling hot' local market particularly appealed to interstate-based investors hoping to capitalise on its affordability with up to 200 buyers and buyers' advocates inspecting homes during some sales campaigns. 'It's the highest rate of interstate interest I've seen in 40 years, it's about three times higher than usual,' he noted. Nelson Alexander Fitzroy partner Rick Daniel covers Melbourne's inner northern suburbs, including Collingwood where median house values rose 3 per cent, more than $41,000, to reach $1,284,545. Mr Daniel said the number of interstate investors inquiring about the suburb had steadily increased lately, although houses in were tightly held and did not often come up for sale. He credited Collingwood's proximity to the CBD and MCG, plus Smith's St's eateries, pubs and retail offerings, for driving its popularity. 'With all the local amenity, if you're looking for inner-city living, it's as good as it's going to get,' Mr Daniel said. In the western suburbs, Compton Green Inner West's Bella Doria said Williamstown North offered both lifestyle appeal and value for buyers. Young families, professionals and investors are among the most frequent buyers. 'You enjoy all the perks: beach proximity, easy access to the CBD via train, community charm, it has all the best Williamtown has to offer just at a more affordable price,' Ms Doria said. Neighbouring Williamstown is one of the priciest suburbs in Melbourne's west with a $1,536,493 median house price.
