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Residex has released its house and unit price results for March, which revealed 0.95% growth in house values over the month but only 0.18% growth in unit values. Over the year, house values rose by 6.37% nationally, with unit values up by 5.33%:
As shown above, Melbourne was the primary driver of the surge in house values nationally, with values in Melbourne jumping by 2.27%, with Sydney also still running strong (+1.32%). Sydney is also still leading quarterly growth at 3.18%, bringing the median house value there to a whopping $929,000.
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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.