February has just provided the biggest monthly jump in home values since 2004, which was the year when we opened the doors at Property Planning Australia.
As we have been sharing via the Podcast and our various communications, the first-hand experience at the coal face suggested to us that the market has been stronger than we have ever experienced, and that has been reflected in the results. We will have more to say on this in the coming days.
February home value index highlights:
- For the third month in a row, dwelling values rise across every capital city.
- The national index increased by 2.1% over February. This is over 24% when annualised.
- Sydney and Hobart are the strongest performers, clocking in growth at 2.5%, while Melbourne surprises many based on their predictions, but not ourselves, with the next highest at 2.1% growth.
- As we have foreshadowed, the capital cities are closing the gap with the regional centres with combined capital cities recording 2.0% growth v 2.1% growth in regions.