General
House prices return to record highs as COVID rally continues into 2021
A 0.9 per cent rise in house prices last month has taken Australian housing values to a record high, exceeding the peak reached in 2017.
Key points:
- Home prices are 0.7 per cent above their previous September 2017 peak
- Capital city prices are still slightly below their pre-COVID levels, but regional prices are well above
- Apartment prices, especially in Sydney and Melbourne, have lagged house prices amid the almost total drop in overseas migration
CoreLogic’s latest figures show national average property prices are now 1 per cent higher than before the COVID-19 pandemic and 0.7 per cent above the previous September 2017 peak.
The increase was broad-based, with every city and broader region recording a rise in January.
The capital city increases…
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