May Property Review

During May the property market behaved almost exactly as it has in recent months, with strong growth across all capital and regional areas in Australia. There was little indication of a large slowing in growth as some predicted. 

Nationally the Corelogic Hedonic Home Value Index  showed a 2.2% monthly gain, accelerating from the 1.8% for April. 

Some key take outs;

• The drivers of the upswing are improving economic conditions, low interest rates, and continued low levels of housing supply

• Such a ‘synchronized upswing’ of growth across all regions, property types and value ranges is extremely rare

• NSW heads the pack with Sydney quarterly growth now at 9.3%, whilst regional NSW grew at 7.8% over the last 3 months

• The top end of the market is seeing the highest growth, again led by Sydney

Source: CoreLogic Hedonic Home Value Index June 2021