December 9, 2021
Australian housing market update: December 2021
Housing values continued to rise last month, but conditions are diversifying as stock levels rise and affordability pressures mount.
Australian housing values were 1.3% higher in November marking the 14th consecutive month where CoreLogic’s national home value index recorded positive value growth. The November update takes national housing values 22.2% higher over the past 12 months, adding approximately $126,700 to the median value of an Australian home.
Although values are continuing to rise, the November result was the softest outcome since January when values rose 0.9%. Since a cyclical peak in the rate of growth in March, when housing values rose at 2.8%, there has been a notable trend towards milder price growth.
Virtually every factor that has driven housing values higher has lost some potency over recent months. Fixed mortgage rates are rising, higher listings are taking some urgency away from buyers, affordability has become a more substantial barrier to entry and credit is less available.
Find out the latest news for each state by clicking the link and watching the videos below or read the full transcript.
Housing Market Update December 2021 Transcript