Australia’s residential property market has made a comeback as the national house prices rose for the third consecutive month in May.
According to the real estate data provider CoreLogic, the national home value index climbed by 1.2 percent in May, following increases of 0.5 and 0.6 percent in March and April.
Prior to this, Australian house prices dropped for ten straight months after the Reserve Bank of Australia (RBA) started an interest rate hiking cycle in early May 2022.
While Sydney led the country with a 1.8 percent growth in home values in the month, the city also saw the most significant increase in the premium housing markets….