Aussie property values ended 2020 with a bang

According to CoreLogic, Australian dwelling values rose another 0.89% in December at the 5-city level, with all major markets experiencing strong growth:

It was the third monthly rise in a row at the 5-city level:

Over Q4, dwelling values rose by 1.7% across the major capitals:

The smaller major capitals drove the quarterly price growth:

The next chart plots quarterly price growth by major capital, which shows the price surge:

In the 2020 calendar year dwelling values rose by 1.8%, with Brisbane and Adelaide leading the way but Melbourne falling:

The next chart plots trend annual price growth across the major markets:

Perversely, despite the strong quarterly growth, annual value growth continued to fade due to exceptionally strong price growth at the same time last year.

Unconventional Economist
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Comments

  1. Jumping jack flash

    Will intensify up to March, and maybe a bit beyond on the back of the release of ~36 billion super dollars.
    But will it be enough to reignite the debt engine and usher in a new golden age of debt?

    Or will this attempt at reignition sputter out and our debt economy once again consigned to the slow melt of high immigration and wage theft to limp along. Interest rate cuts, QE, NIRP, and all the rest of those amazing economic contortions to delay the inevitable heat-death?

    In my opinion there is still hope for the former!

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