Australia’s housing market finished the year with strength according to recent data, with CoreLogic’s national home value index rising a further 1.0% in December; the third consecutive month-on-month rise following the -2.1% drop in dwelling values between April and September.
At the close of 2020, Australian home values were 3.0% higher, with regional housing values rising 6.9% due to the demand for a tree or coastal change as remote working opportunities became more prevalent and lower density housing became more popular.
Corelogic’s research director, Tim Lawless, said despite the volatility in the market throughout the early stages of Covid-19 where property sales plummeted by -40%, a surge in buyer activity in the second half of the year saw property transactions increase by 8% compared with the same time the year prior. Housing values also showed great resilience, falling only by -2% before rebounding with strength throughout the final quarter of 2020.
Our team have had a great start to the year with new listings coming to market and plenty in the pipeline, whilst buyer activity in the marketplace remains strong.
If you would like assistance with your real estate plans in these early stages of 2021, reach out to us so we can help.