The CoreLogic daily dwelling values index continues to rocket soaring another 0.5% in the week ended 4 March 2021.
This continues a strong run whereby dwelling values across the five major capitals have risen by 1.8% over the past three weeks alone:
This week’s 5-city increase was broad-based with all major markets posting strong growth. Sydney, in particular, is going gangbusters:
Quarterly growth is also red hot and broad-based, with all major capitals recording double-digit annualised growth:
Annual price growth is also accelerating, but remains soft overall, dragged down by falls in Melbourne and strong growth at the same time last year:
The strong price growth should continue for the foreseeable future based on record mortgage issuance, near record high clearance rates, and an acute shortage of homes for sale.
Double-digit price rises seem locked in for 2020.