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June Data Shows Prices Soaring

June Data Shows Prices SoaringHouse prices continue to grow strongly. The CoreLogic Home Value Index published on 1 July shows prices rose on average 2.1% in June, 6.7% in the June Quarter and 13.6% in the first six months of 2021.

Growth in June was led by Sydney (up 3%), Regional Tasmania (2.9%), Hobart (2.8%), Canberra (2.7%) and Regional NSW (2.4%).

But capital growth in the year to the end of June was strongest in Regional Tasmania (21.9%), Regional NSW (21.9%), Darwin (21.4%) and Canberra (20.7%).

The strongest annual growth in median unit prices occurred in Hobart (21.3%), Darwin (19.8%), Regional Victoria (18.1%) and Regional NSW (16.1%), compared to 5.1% for Sydney and 4.7% for Melbourne.

The data confirms that price growth in the past 12 months has been led by regional markets and the smaller capital cities.

But Sydney has made big gains in the first half of 2021, with houses up 18.5% and units up 8.2%. Other markets to have made big gains in house prices in the Year To Date include  Regional Tasmania, Regional NSW, Canberra and Hobart.

Most of the 15 market jurisdictions (eight capital cities and seven state regional areas) have recorded house price growth above 10% in the first six months of 2021. The exceptions include Perth (7.3%), Regional WA (4.9%) and Regional SA (8.5%) – still solid growth in just six months.

Most markets recorded house price growth well above 1.5% in June, according to the CoreLogic report.


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