The property market capped off a unique year with a strong finish in December. At a time when the property market is typically winding down for the holidays, the market was chugging along full steam ahead.
Here are the December highlights from CoreLogic:
- Dwelling values rise across every capital city.
- The national index increased by 1.0% over December or 12% annualised, steadily climbing from 0.8% in November.
- Darwin hit it out of the park with a 2.3% value increase, which is a whopping 27.6% annualised.
- Brisbane, Adelaide and Perth finished strong with 1.1% growth.
- Melbourne gains pace, with 1.0% growth in December, rising from 0.7% in November.
- Sydney, Hobart and Canberra were the only three to fall short of 1% growth. All other states rose by an annualised rate of 12% or above.
- Regional areas are still outperforming capital cities, recording 1.6% growth in December V 0.9% in the cities.
What will 2021 bring?