Premium properties lead real estate revival, but is a double-dip housing downturn looming?
- Jul 4, 2023
- 1 min read
Sydney is continuing to lead a home price rebound, as property values close in on a return to pandemic boom peaks. Two interest rate rises in a row appear to have done little to dent the market, particularly in the premium sector — the top quarter of homes by value.
CoreLogic data show a 1.1 per cent rise in national property values over June, backing up May's 1.2 per cent increase.
Sydney's 1.7 per cent rise was again the strongest last month, with Brisbane (1.3 per cent), Perth and Adelaide (both 0.9 per cent) the next largest.
Only Hobart (-0.3 per cent) saw prices fall in June.
Regional markets were weaker than most of the capitals, with prices up an average of 0.5 per cent.
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