Sydney bubble drives 1.3% March jump in home values

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By Leith van Onselen

RP Data’s price results are in for March, with the daily index recording a 1.33% rise over the month at the 5-city level, driven almost entirely by a massive price surge in Sydney (see next chart).

ScreenHunter_6806 Mar. 31 10.40

It was the fourth monthly rise in values since the unexpected fall in November, with values also up by 2.93% over the quarter, with Sydney’s up by a whopping 5.73% (see next chart).

ScreenHunter_6805 Mar. 31 10.38
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.