Property researcher CoreLogic has found Australia’s residential home market has grown at the highest annual rate in 17 years, leaving dwelling values 13.5 percent higher than the end of the previous financial year. “This is the highest annual rate of growth seen across the Australian residential property market since April 2004, when the early 2000’s housing boom was winding down after a period of exceptional growth,” CoreLogic Head of Research Eliza Owens said on July 1. The growth was led by houses, which rose 15.6 percent over the year compared to a 6.8 percent growth in units. In June, every capital city had an uplift in home values, with Hobart leading at 3 percent and Perth behind at 0.2 percent. Over the past financial year, Darwin has had the highest annual growth rate of the capital cities, increasing by 21 percent. While, the regional markets, New South Wales homes had …
Australian Housing Market Continues Upward Surge but Is Showing Signs of Slowing
July 1, 2021
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