City house prices stage comeback as trend to regions reverses

City House Prices

City house prices stage comeback as trend to regions reverses

Home values in the capital cities have outperformed their regional counterparts for the first time in a year, sending national growth 2.8 per cent higher over March, according to CoreLogic data.

With Sydney and Melbourne staging a full recovery from the downturn, the combined capitals grew 2.8 per cent over the month, outpacing the 2.5 per cent gain experienced in the regions.

“That has been a reversal of the trend and it happened quite quickly,” CoreLogic research director Tim Lawless said.

“I guess this is a testament that as the capital cities become more vibrant as we see workers returning to work, and demand starting to build back closer to the inner city areas, that the capital cities are starting to outperform the regionals, again.”

Source: Financial Review newsfeed, 1 April 2021
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