According to CoreLogic, Australian dwelling values rose another 0.89% in December at the 5-city level, with all major markets experiencing strong growth:
It was the third monthly rise in a row at the 5-city level:
Over Q4, dwelling values rose by 1.7% across the major capitals:
The smaller major capitals drove the quarterly price growth:
The next chart plots quarterly price growth by major capital, which shows the price surge:
In the 2020 calendar year dwelling values rose by 1.8%, with Brisbane and Adelaide leading the way but Melbourne falling:
The next chart plots trend annual price growth across the major markets:
Perversely, despite the strong quarterly growth, annual value growth continued to fade due to exceptionally strong price growth at the same time last year.
