/ 04 May 2021

Home price rises not as nuts as last month…

… but they’re still as crackers as bonfire night. For a measure of how extraordinary March’s 32-year record monthly surge was, April’s slow down was seen as some reprieve for home buyers. Note: last month’s rise was still about 6 times the historical average monthly rate of growth, according to property analysts CoreLogic… Looking at April, there was an average national home price increase of 1.8%. All capitals saw price growth, with Darwin (2.7%), Sydney (2.4%) and Adelaide (2%) leading the way. It’s seriously low interest rates and limited stock that continue to fuel price increases, economists say. Commbank, Australia’s biggest lender, reckons price rises will be around for a while, albeit at a slower pace than in recent months. “We have a 14% lift in dwelling prices in 2021 and 2022, with a stronger increase for houses relative to apartments,” the bank’s senior economist Kristina Clifton said yesterday. Hold on and ride it like a rocket… #SquizShortcuts

Know someone who'd be interested in this story? Click to share...

The Squiz Today

Your shortcut to being informed, we've got your news needs covered.

Get the Squiz Today newsletter

Quick, agenda-free news that doesn't take itself too seriously. Get on it.