Business
Why are ASX property shares on the rise today?
The ASX 200 Real Estate Sector Index (ASX: XRE) has risen by more than 0.9% today. This comes after a CoreLogic report released today shows that Australian property prices rose for the second consecutive month in November, rising overall by 0.8%.
The report says that regional Australia has driven this growth, with regional home values rising on average by 1.4% — double that of the capital cities.
Here’s what moved the ASX property shares today
CoreLogic publishes daily and monthly residential value indices, including summary monthly movement data. Today’s release provided a strong boost to the property sector, which has seen a 2.1% drop in home values between April and September as a result of the construction slump caused…
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