The national housing boom ends 2021 on a high note | Canberra weather

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House prices have skyrocketed across the country in 2021, but the heat is coming out of Sydney and Melbourne as Australia kicks off the new year. CoreLogic data shows values ​​rose 22.1% during the 2021 schedule to a median home value of nearly $ 710,000. House prices in Sydney, where the median home value is over $ 1 million, climbed 25.3% for the year, before jumping 15.1% in Melbourne. Prices rose 28.1% in Hobart, which was the biggest gain of any capital city in 2021. The combined increase in the eight capitals was 21% for the year, while the areas regions enjoyed a larger increase of 25.9%. However, data released on Monday also shows that price growth slowed in December. The national value of dwellings rose 1% in December, from 1.3% in November. The pace of growth is also down from the 2.8% rate seen in March 2021. Every capital recorded growth in December, except Melbourne, which fell 0.1%. CoreLogic research director Tim Lawless said housing market dynamics had slowed in Sydney and Melbourne. “The recently announced increase in listings through December has been a key factor in the heat recovery in the Melbourne and Sydney housing markets,” Lawless said. Mr Lawless said a two-tier market was emerging across the country, with gains declining in Sydney, Melbourne and Perth and expanding in Brisbane and Adelaide. “In Brisbane and Adelaide, housing affordability is less difficult, advertised inventory levels remain remarkably low and demographic trends continue to support housing demand,” he said. There was also an increase in home values ​​in regional areas – which was up 2.2% in December and the largest monthly increase in nine months. NATIONAL CORELOGIC HOUSES VALUE INDEX FOR DECEMBER (month, annually) National – up 1.0 percent, up 22.1 percent Sydney – up 0.3 percent, up 25, 3 percent Melbourne – down 0.1 percent, up 15.1 percent Brisbane – up 2.9 percent, up 27.4 percent Adelaide – up 2.6 percent, up 23.2 percent Perth – up 0.4 percent, up 13.1 percent Hobart – up 1.0 percent, up 28.1 percent Darwin – up 0.6 percent, up 14.7 percent Canberra – up 0.9%, up 24.9% Combined capitals – up 0.6%, up 21 , 0% Regional combined – up 2.2%, up 25.9% Source: CoreLogic Australian Associated Press

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