Housing booms in Australia

Value soars: A pedestrian walks past property listings in the window of a real estate agency in Sydney. Nationwide house values surged 2.1% in February, the largest increase since August 2003, with city prices gaining 2%, led by Sydney and Melbourne. — Bloomberg

SYDNEY: Australia’s housing market is booming again, with the biggest monthly price gain in 17 years dispelling fears of a Covid-induced downturn.

Nationwide house values surged 2.1% in February, the largest increase since August 2003, CoreLogic Inc data showed. Capital city prices gained 2%, led by Sydney and Melbourne.