General
House prices rise with regional market outperforming capital cities, CoreLogic data shows
House prices in regional Australia have risen at a higher annual rate than in capital cities for the first time in more than 15 years, as COVID-19 increases people’s desire to live outside the big smoke.
Key points:
- CoreLogic data shows national house prices rose 1 per cent in December
- Regional prices grew almost 7 per cent compared to 2 per cent growth for capital cities
- Government stimulus saw house prices finish the year 3 per cent higher
Annual data by real estate analysts CoreLogic shows dwelling values in capital cities rose 2 per cent during 2020.
That compares to an almost 7 per cent increase for regional markets.
“Regional markets haven’t outperformed the capital city markets since 2004,” CoreLogic research director Tim Lawless said.
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