Aussie property’s stunning COVID rebound

Just over a year ago, COVID-19 was declared a global pandemic by the World Health Organization (WHO). A nation-wide lockdown ensued, which was followed by a further 14-week hard lockdown across Victoria over winter and then several short lockdowns across various states.

Australia’s property market was negatively impacted at the beginning of the pandemic. Millions of Australians lost their jobs or were thrown onto welfare, consumer confidence cratered, property inspections and auctions were stopped, and the 5-City CoreLogic dwelling values index fell between April and October 2020.

However, the subsequent rebound has been utterly spectacular, with all major capitals experiencing strong price growth.

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