Westwood Conveyancing

Double Digit Property Price Growth so far this year!

Look at this – Record double digit price growth so far this year!

Capital city housing markets continued to record strong prices growth over June, although the rate of increases has moderated from the extraordinary levels reported over May.

Sydney was yet again the top performer with house prices rising by 9.1% over the June quarter for an increase of 17.8% over the first half of 2021 – and remarkably 24.2% higher than the price recorded over the June quarter last year.

All capitals continued to record boom-time increases in house prices over the June quarter with Perth the underperformer with prices higher by a still-strong 2.5%.

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Unit prices have also recorded strong growth generally over the June quarter, although similar to houses, the rate of growth declined over the month.

Sydney was again clearly the top performer over the quarter with unit prices increasing by 4.5% for an annual increase of 9.0%.

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All capitals are set to report increases in house prices exceeding 10% over 2021 despite the challenges of falling affordability from sharply higher prices and covid lockdown constraints.

Source  :  https://propertyupdate.com.au/look-at-this-record-double-digit-price-growth-so-far-this-year/?

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