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.
Despite values being down in June, estimates of market activity showed a further improvement from the April low.
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Despite the loss of momentum in housing value growth, buyer numbers have shown a solid rise in May.
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Market activity dropped sharply from the second half of March and through April.
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