Housing values continue to rise

Despite the high-interest rate environment, housing values have remained broadly resilient, if not strong in some cities and regions.

Upwards pressure on housing values has been supported by an imbalance between supply and demand, a situation that looks entrenched as barriers to new housing supply remain high.

Nationally, we have seen a reacceleration in the pace of value growth through the first two months of the year, which could reflect renewed optimism amid a peak in the rate hiking cycle and progress towards the inflation target.

CoreLogic’s daily HVI is pointing towards further growth in housing values, with each of the five largest capitals recording a rise in dwelling values through the month-to-date.

In line with a pick-up in the pace of growth in housing values, we have also seen auction clearance rates bounce higher through the year-to-date, rising to above-average levels in most cities.

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Jason Gwerder
Saturday, 23 March 2024

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