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.
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.
Brett Moore, Customer Executive Professional Services leads a discussion with NAB experts Alan Oster, NAB Group Chief Economist, Dean Pearson, Head of Economics Research and Mark Browning, NAB’s Head of Residential Valuations in sharing their view on the varying impacts COVID-19 has had on the Real Estate industry.
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