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Australia’s property boom has gone from strength to strength, with CoreLogic’s 5-city daily index surging another 0.70% in the week ended 25 February, which follows the prior week’s 0.55% rise.
As shown in the next chart, the past two week’s increase in values were the strongest in years, easily surpassing the late 2019 boom:
Sydney and Melbourne drove this week’s rise in values, with both capitals surging by 0.83%. Brisbane values also soared by 0.52%, with Perth (0.24%) and Adelaide (0.19%) recording smaller rises:
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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.