Australian dwelling values grew less strongly in the week ended 8 April, only registering a 0.34% rise across the five major markets:
It was the softest weekly price increase in nine weeks, which illustrates just how strong the nation’s property market has been.
Sydney continued to lead the nation’s dwelling value growth, recording a rise of 0.47%. This was followed by Brisbane (0.34%), Adelaide (0.25%), Melbourne (0.23%) and Perth (0.19%):
Quarterly growth remains red hot, again led by Sydney (7.25%), followed by Brisbane (5.55%), Melbourne (5.20%), Perth (5.02%) and Adelaide (3.33%):
If this rate of growth continued for the remainder of the year, then Sydney would record growth of 30% in 2021, with Brisbane, Melbourne and Perth each recording rises of more than 20%.
Finally, annual property price growth continues to accelerate with all major markets other than Melbourne recording solid rises:
The post COVID property price boom rolls on with 2021 shaping up to be the strongest year in decades.
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