Quick Bites | Australian house prices keep rising

Australia’s home prices jumped again in February despite elevated interest rates, reflecting a spike in population growth and an absence of new housing. Sydney and Melbourne both nudged higher, while the two fastest-growing markets were Perth and Adelaide. Meanwhile, price gains slowed in New Zealand’s housing market.

Source: Bloomberg 

Tim Lawless, CoreLogic research director, said home value growth had likely hit its lowest rate in December based on the recent two months’ results and could continue rising from here, albeit at a modest pace. “The outlook for home values brightened since the end of last year with the subtle but widespread re-acceleration in house price growth, fuelled by a lift in housing sentiment as expectations of a rate cut or cuts firm up,” he said.

Source: AFR

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