House prices across the country have increased by 16.1% over the past 12 months, making it the most robust current state of the market, it’s also clear that momentum is slowing down. Over July, increased in all shapes and territories, and once again, the same capital cities performed strongly.2004. While the latest data from CoreLogic paints a positive picture of the
Canberra was the best-performed property market last month, increasing in value by 2.6% and adding to a 20.5% increase in the past 12 months. Hobart and Darwin increased in value by 1.7% in July and grew in importance by 21.9% and 23.4%, respectively, over the past year, making them the two most robust markets in the country. Sydney jumped by 2.0% and has seen 18.2% annual growth; however, CoreLogic has noted that the market here is finally starting to cool down.
After seeing a peak monthly growth of 3.7%, Sydney has had the most significant relative. Meanwhile, Brisbane continues to perform well, growing at 2.0% in July and 15.9% over the last 12 months. Once again, Perth is underperforming all other property markets, having seen only 10.8% growth since . Head of Research at CoreLogic, Tim Lawless, notes that in many areas and negative sentiment thanks to ongoing lockdowns.
“On the flip side, demand is being stocked by record-low mortgagefor an extended period. Dwelling sales are tracking approximately 40% above the five-year average, while active about -26% below the five-year average. The mismatch between demand and advertised supply remains a placing pressure upwards on housing prices,” Mr. Lawless said. After
performing well above expectations in 2020, regionalreturning to growth levels similar to the metro areas. In the first seven months of 2021, CoreLogic data shows an almost equal growth rate in dwelling , with discounts up 14.5% and 14.0%, respectively. Regarding types of properties performing well, it continues to be detached and apartments.
Houses increased in value by two to three times units in most cities with the expectation of Hobart over theas buyers continue to have more space and lower-density living. The other factor that around the country is still the low stock levels. Advertised listing numbers remain well below most parts of the country. Recently the number of newly advertised properties has fallen sharply across , with many vendors waiting until conditions ease.