New figures from CoreLogic RP Data have shown that Australia’s property market is still growing.
CoreLogic saw an average rise of 0.8% across the mainland state capitals over the week to Sunday – and based on historical standards, the figure is very strong weekly increase.
However, the report also stated that a 0.8% climb is still lower than the gains over each of the preceding three weeks. The rise therefore appears to be an unusually strong bounce from the seasonal lull experienced from mid-May.
The strongest annual growth in the country was found in Sydney at 16.6%, while Melbourne placed second with a 10% jump from a year earlier.
Meanwhile, CoreLogic found the annual movements for other mainland state capitals to be much smaller - up 4% in Adelaide, 3.9% in Brisbane and the Gold Coast, and down 1.7% in Perth.