Australia, Singapore Home Prices Surge Amid Tight Supply, Buying Waves

Australia's housing market has reached new peaks in 2025, with national dwelling values increasing 0.8% in September and 2.2% over the past quarter, driven by record-low listings and strong buyer demand. Perth, Brisbane, and Darwin led growth, with Darwin seeing a 5.9% quarterly rise fueled by a resources boom and extremely low housing supply. Meanwhile, Singapore's private home prices surged 1.2% in the third quarter of 2024, the fastest rise in three quarters, driven by strong presales of new apartments and reduced local interest rates. Developers in Singapore have responded by launching smaller, competitively priced units, spurring a buying frenzy that challenges government efforts to control housing affordability through macroprudential measures like increased seller's stamp duty. Despite these cooling efforts, housing demand in Singapore remains robust, supported by new project launches and lower borrowing costs, with some moderation expected due to macroeconomic uncertainties. Both Australia and Singapore are experiencing significant housing price growth amid tight supply and government policies aimed at balancing demand and affordability.