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Property market turns a corner in October
Property market turns a corner in October 2 November 2020 Matthew Hughes Article by: Ingrid Fuary-Wagner, Reporter Source: Australian Financial Review November 2, 2020 The property market has turned a corner since the advent of COVID-19 with prices increasing nationally for the first time in five months, by 0.4 per cent in October, with Melbourne the only capital city to record a fall in values. The smaller cities led the charge with strong price growth of 1.2 per cent in Darwin and Adelaide, 1 per cent in Hobart and Canberra, 0.6 per cent in Perth and 0.5 per cent in Brisbane, according to CoreLogic’s latest home value index. Sydney’s property values, which have been falling consistently since April, recorded a slight increase of 0.1 per cent over the month while Melbourne prices continue to drag the rest of the property market with a 0.2 per cent fall over October. “The smaller cities have been much more resilient for starters and they are also on a stronger recovery trajectory,” CoreLogic’s head of research, Tim Lawless, said. “I think partly we can attribute that to the fact they generally have had better management of the virus itself, so we haven’t seen further lockdowns. But
Article by: Ingrid Fuary-Wagner, Reporter Source: Australian Financial Review November 2, 2020 The property market… Read Article