Australian housing market update: December 2020
Australia’s housing market continued to recover, with dwelling values up 0.8% over the month.
Australia’s housing market continued along a recovery trend through November, with our national home value index recording a second consecutive monthly rise. With dwelling values up 0.8% over the month, the new recovery trend follows a 2.1% drop in Australian home values between April and September.
At this rate of appreciation, we are likely to see CoreLogic’s national home value index surpass pre-COVID levels in early 2021.
Although housing values look set to surpass their pre-COVID highs early next year, both Sydney and Melbourne home values remain at levels similar to those seen in early 2017. While rising, Perth values are similar to mid-2006 levels and Darwin values are in line with 2007 levels. At the other end of the spectrum, housing values moved to new record highs in Brisbane, Adelaide, Hobart and Canberra through November.
Find out the latest news for each capital city by clicking the link and watching the videos below or read the full December 2020 Housing Market Update Transcript.