Housing prices across the country re-accelerated through May as a combination of ultra-low interest rates, strong consumer confidence and low supply drove prices to their highest levels in every capital city.
Melbourne’s house values jumped by 2.2 per cent to be 6.3 per cent better over the quarter. The median house price has now gone through $900,000. Unit values in Melbourne lifted by 0.8 per cent to be 4.9 per cent up over the past year.CoreLogic’s Tim Lawless says low supply, strong consumer confidence and low interest rates are helping drive up prices.Values in Hobart increased by 2.2 per cent in May, by 2.1 per cent in Adelaide, by 1.1 per cent in Perth, by 2.7 per cent in Hobart, by 1.
“The combination of improving economic conditions and low interest rates is continuing to support consumer confidence which, in turn, has created persistently strong demand for housing,” he said. Mr Lawless said housing values over the past three months had climbed in 97 per cent of the nation’s housing markets.“Such a synchronised upswing is an absolute rarity across Australia’s diverse array of housing markets,” he said.
swrighteconomy JennieDuke off-shore buying frenzy...!
swrighteconomy JennieDuke And who is actually buying these homes. No one I know that’s for sure.
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