Australian housing market update: February 2021
Housing values continued to rise through the first month of 2021
After the housing market finished last year with strong foundations, housing values continued to rise through the first month of 2021 with CoreLogic’s national home value index up nine tenths of a percent over the month. The January movement takes Australian home values to a fresh record high, surpassing pre-COVID levels by 1.0% and national home values were 0.7% higher than the previous September 2017 peak.
Every capital city and broad rest-of-state region recorded a rise in housing values over the month, ranging from a 2.3% surge across Darwin to a relatively mild 0.4% rise in Sydney and Melbourne.
Continuing a trend that became evident early in the pandemic, regional housing values rose at more than twice the pace of the capital city markets. CoreLogic’s combined regionals index was up 1.6% over the month, while capital city values were 0.7% higher. Since the onset of COVID-19 in March last year, regional housing values have surged 6.5% higher while capital city housing values are down -0.2% over the same time frame.
Find out the latest news for each capital city by clicking the link and watching the videos below or read the full Australian housing market update February 2021 transcript.