/ 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

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