CoreLogic weekly house price update: Soaring Sydney

In the week ended 13 May, the CoreLogic daily dwelling values index surged another 0.69% – the strongest growth since the week ended 18 March:

CoreLogic daily index

A big lift in weekly dwelling values.

Sydney’s dwelling values rocketed by 0.93%, whereas the other major capitals recorded slower (albeit still very strong) price growth:

CoreLogic weekly values

Sydney continues to lead the nation’s price growth.

So far in May, dwelling values have risen by 0.97%, led by Sydney (1.32%), with all other major capitals also recording strong growth:

CoreLogic May values

May is looking to be another strong month for Australia’s housing market.

Quarterly price growth remains turbo-charged at 7.18% across the five major capitals. Sydney (9.34%) continues to lead the way, followed by Brisbane (6.18%), Melbourne (6.00%), Adelaide (4.86%) and Perth (3.95%):

CoreLogic quarterly growth

Quarterly price growth is strong across the board, with Sydney leading the nation.

So far in 2021, Australian dwelling values have risen by 8.57%, led by Sydney which has already recorded double-digit price growth:

CoreLogic 2021 movements

Sydney has already recorded double-digit price growth in 2021.

Over the past 12 months, Australian dwelling values have risen 7.2%, with solid to strong growth recorded everywhere but Melbourne:

CoreLogic 12 month movement

Annual price growth is rising.

The boom rolls on, led by Sydney.

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