Sydney property prices continue to soar into the stratosphere.
According to CoreLogic’s daily dwelling values index, Sydney dwelling values have already surged an extraordinary 10.6% this calendar year with prices already up 1.2% in May:
Price momentum also appears to be growing. Quarterly dwelling value growth is running at 9.3%, which is the strongest growth since 1988:
The strong momentum is set to continue. Sydney continues to record final auction clearance rates above 80%, which traditionally correlates strongly with prices:
Sydney mortgage growth is also booming:
Based on this data and the current momentum in the market, Sydney could record dwelling value growth of 25% or more this calendar year.