• Property market update February 2021

    Regional growth lifts housing values to new peak There was no post-Christmas hangover for the property market as prices rise across the board in January. 

  • Regional growth lifts housing values to new peak

    There was no post-Christmas hangover for the property market as prices rise across the board in January. The monthly gain of 0.9% means the national average dwelling price is now higher than the previous peak of October 20171

    Interestingly, some of the strongest gains in the last 12 months have been in our regional areas, up 7.9% compared to 1.7% growth across our capital cities1

    This trend is mainly due to an influx of people in regional areas. In the September 2020 quarter, regional Australia had a net gain of more than 11,000 people from capital cities – the largest increase since records began in 20012. No doubt a shift to remote working and a desire for more space are key drivers behind this switch.

    Median dwelling (house/unit) prices at  31 January 20212

    City Median dwelling price (house and units) Capital growth last 12 months
    Sydney $879,299 2.0%
    Melbourne  $692,162 -2.1%
    Brisbane $527,826 4.0%
    Adelaide $473,170 6.5%
    Perth $484,280 3.4%
    Darwin $426,215 11.4%
    Hobart $523,932 6.8%
    Canberra $686,524 8.5%
    Combined capitals $659,731 1.7%

    1 CoreLogic Home Loan Value Index, 1 February 2021

    2 RFA Insights, 8 February 2021

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  • Disclaimer:

    While such material is published with permission, RAMS is not responsible for its accuracy or completeness.  This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.