Australia's home value index is up 3 per cent on the previous year as buyers choose low-density houses in the country over high-density apartments in cities.
NEWS & INSIGHT
Property in Australia’s capital cities rose an average of 3 per cent in 2020, while regional markets climbed 6.9 per cent higher.
Buying a home in every capital city across the country except for Melbourne became more expensive in 2020.
With prices on the up and confidence growing, it seems finally some good news has dawned on the Perth housing market.
The pandemic has driven a year of record spending in the housing market, with Sydneysiders leading the way.
Five of Australia’s eight capital cities are on course to experience double-digit house price growth in 2021.
Predictions of a coronavirus pandemic-induced property pricing fall had little impact on sentiment in the prestige market.
The economy faces headwinds in the new year as it continues to grapple with the impact of the coronavirus, but growth is set to pick up earlier and faster.
Many of the suburbs earmarked for growth in 2021 are in lesser-known locations.
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