Increased activity: Houses stand in the suburb of Eastwood in Sydney. The Australian property market has surged during the pandemic, as record low interest rates fuel demand, pushing buyers to compete for a scarce supply of listings. — Bloomberg
SYDNEY: Australian home prices rose for a third straight month in December, capping a wild year in which prices dipped during the first Covid-19 outbreak, before rebounding strongly as the economy reopened.
House values in major cities rose 0.9% last month, CoreLogic Inc data released yesterday showed. For the year, prices gained 2%, defying concern home values would plunge after coronavirus lockdowns pushed Australia into its first recession in almost three decades.
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