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A new report from NAB shows that the median house price across regional areas rose by 26% in the year to January 2022, compared with growth of 21.3% across the nation’s capital cities.
Julie Rynski of NAB notes that 24 of the nation’s 25 largest non-capital city regions have recorded double-digit house price growth over the last 12 months, with 18 of these regions recording price increases above 20%.
The surge in house prices is being driven by factors such as the growing trend for capital city residents to relocate to regional areas, which has also had a flow-on effect on the rental market.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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