House Prices Continue to Rise Despite Lockdowns
Despite more than half of the country being stuck in various stages of lockdown, house prices continue to rise.
According to the latest data from CoreLogic, house prices have risen 1.5% in the month of July 2021, again being led by Sydney that has seen values rise by 1.9%.
The smaller capital cities of Hobart, Darwin and Canberra continue to see some of the strongest growth on an annual basis, while all major capital cities have seen yet another positive month of house price growth.
However, we are starting to see auction clearance rates fall away, with many vendors choosing to wait out the current set of lockdowns in both Sydney and Melbourne.