The defiance of property prices seen throughout 2020 has continued into the New Year, with all markets across the nation recording uplift in January.
CoreLogic figures show that all 15 major market jurisdictions (eight capital cities and seven state regions) recorded house price growth in January, led by a 3.7% monthly rise in Darwin and a 2.5% increase in Regional South Australia.
The regions are again out-performing, with a 1.7% monthly uplift in the Combined Regions, ahead of a 0.9% rise in the Combined Capitals.
In the three months to the end of January, all 15 market jurisdictions had substantial rises, with most markets rising by more than 3% in the quarter.
In annual terms, property values are now more than 10% higher in four jurisdictions – Darwin (15.3%), Regional Tasmania (12.5%), Regional South Australia (10.9%) and Regional NSW (10%).
All jurisdictions have recorded annual rises, except Melbourne and Regional WA.
The momentum evident in most markets, underpinned by rising demand, very low vacancy rates and rising rents, confirms my view that a national boom is under way.
Terry Ryder – February 2021
