Prices Up 2.2% in May
Property prices grew more than 2% in May and most markets across the nation have increased 10% or more so far in 2021. The latest monthly price report from CoreLogic indicates that dwelling prices rose 2.2% nationally in May, with houses up 2.4% and units 1.5%. In the first five months of 2021, the national average is an 11.3% rise in house prices and a 6.2% increase for units. Four capital cities and four state regional markets have grown more than 10% in the year to date, led by Sydney (up 15%), Regional Tasmania (12%) and Regional NSW (12%).
In May, according to CoreLogic, 12 of the 15 market jurisdictions (8 capital cities and 7 regional areas) lifted their house prices by at least 1.5%, led by Sydney (3.5%) Regional NT (3.1%) and Hobart (2.5%).
There was also good growth in unit markets, with all market jurisdictions except Regional WA delivering increases in May – led by Hobart (up 5.2%) and Darwin (up 4.9%). In annual terms, unit price growth is headed by Darwin (18%), Hobart (17%), Regional Victoria (15%) and Regional NSW (13%).
Share This Story, Choose Your Platform!