Despite many parts of the country remaining in some level of lockdown, the housing boom continued to roll on, with national home values rising another 1.5% last month.
Although the pace of housing growth has slowed, values continue to rise at a rate that is well above average across most areas of the country.
Housing market ended the financial year on a high note. Despite another month of strong gains, there are signs that some heat is coming out of the market
CoreLogic’s national Home Value Index up 2.2% in May – a stronger result compared with the 1.8% lift in April.
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Housing values are still rising at a rapid pace, up 6.8% over the past three months to be 10.2% higher than the COVID low in September last year.
The national home value index recorded a 2.8% rise, the fastest rate of appreciation since October 1988.
Momentum continued to build across Australian housing markets last month, as values rise at the fastest rate in seventeen years.
Housing values continued to rise through the first month of 2021
Australia’s housing market continued to recover, with dwelling values up 0.8% over the month.
Regional housing markets continued to outperform the capital cities in October.
Consumer confidence increased, new listings rose, and six of the eight capital cities recorded a rise in home values over the month.
Australian home values moved through a fourth month of COVID-induced falls.
Record low interest rates, government support and loan repayment holidays for distressed borrowers have helped to insulate the housing market from a more significant downturn.
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