House price resur­gence

Mercury (Hobart) - - BUSINESS -

AUS­TRALIAN home prices rose more in Oc­to­ber than in any month in the past four years, fur­ther sug­gest­ing the coun­try’s prop­erty down­turn could be over.

Last month’s 1.2 per cent rise in prices was the fourth straight monthly in­crease and the largest since May 2015, ac­cord­ing to CoreLogic’s Home Value In­dex monthly sur­vey.

“It’s be­com­ing in­creas­ingly clear that the hous­ing mar­ket re­bound is gather­ing pace,” CoreLogic re­search direc­tor Tim Lawless said.

The strong­est growth was in Mel­bourne and Syd­ney, where prices rose 2.3 and 1.7 per cent, re­spec­tively, but prices were up across ev­ery cap­i­tal city ex­cept Perth, where they dipped 0.4 per cent.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.