CoreLogic has released its daily index results, which reveals that dwelling values across the five major capitals rose by 0.62% in January – the fourth consecutive monthly increase:
Dwelling values rose across all five major capitals, with Perth (+1.55%), Brisbane (+0.98%) and Adelaide (+0.88%) leading the way and Sydney and Melbourne (each 0.43%) lagging:
Over the January quarter, dwelling values across the five major capitals rose by 2.1%:
This rise was again driven by Perth (+3.8%), Adelaide (+3.3%) and Brisbane (+3.0%), with Melbourne (+2.1%) and Sydney (+1.6%) posting softer growth:
The next chart shows the upturn in values across the five major markets, which turned the corner around August last year:
Annual growth remains soft however; although this is a reflection of the strong growth in values experienced at the same time last year and value declines across Melbourne:
The next chart plots trend annual price growth across the major capitals, with Perth, Adelaide and Brisbane leading the way:
Clearly, 2021 has begun on a strong note for Australia’s property market, which is also reflected in strong mortgage finance and auction clearance data.
