CoreLogic has released its daily dwelling values index for 31 May, which shows that property values across the five major Australian capital city markets surged another 2.3% over the month:
The rise in values was broad-based with all major capital city markets recording strong increases. However, Sydney again led the way followed by Brisbane:
Over the May quarter, dwelling values rose by a whopping 7.1% across the five major capital cities – the strongest quarterly growth since the late 1980s:
Sydney continues to lead quarterly value growth, rising by an insane 9.3%. However, value growth is universally strong:
The next chart shows the quarterly time series across the five major capitals:
Annual dwelling value growth is also rising fast across all major capital city markets as they sweep aside the COVID funk:
After taking a slight breather last month, the property boom reasserted itself with a vengeance in May.