New data from two sources confirms that a national real estate boom is under way across Australia. The latest figures from both Domain and CoreLogic record annual growth in house prices in most locations in the nation, but in particular in the latest quarter. CoreLogic’s price report shows that all 15 market jurisdictions (8 capital cities and 7 state regions) recorded uplift in January and in the past three months. Domain’s report shows all capital cities had significant price increases in 2020, with major uplift in the December Quarter.
The CoreLogic figures show quarterly growth of at least 2.4% in all 15 market jurisdictions. That equates to double-digit annual increases if those growth rates are maintained. But 12 of the 15 major markets had quarterly increases ranging from 3.5% to 7.8%.
The Domain data shows quarterly rises in house prices ranging from 3% to 6.4% in five of the eight capital cities and equally significant increases throughout many regional locations.
The smaller capital cities and the regional markets are leading the growth in house prices.