{"id":27955,"date":"2020-10-01T10:36:39","date_gmt":"2020-09-30T21:36:39","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=27955"},"modified":"2020-10-01T10:36:39","modified_gmt":"2020-09-30T21:36:39","slug":"the-suburb-where-home-values-rose-10-during-lockdown","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-suburb-where-home-values-rose-10-during-lockdown\/","title":{"rendered":"The suburb where home values rose 10% during lockdown"},"content":{"rendered":"

PHOTO: One of Sydney’s Northern Beaches suburbs has outperformed. Image: Getty<\/strong><\/p>\n

The coronavirus pandemic has helped\u00a0push Australian home values lower for four months in a row, but some suburbs have been bucking the trend in spectacular fashion, new analysis reveals.<\/p>\n

Realestate.com.au\u2019s latest update reports that while regional Australia is generally outperforming the broader housing market, expensive suburbs are also surging higher \u2013 at odds with historic downturn house price trends.<\/p>\n

Chief economist Nerida Conisbee said global data highlights some \u201cinteresting trends\u201d in just how resilient house prices have been, with most markets around the world declining only slightly or increasing.<\/p>\n

\u201cA lot of this has to do with strong momentum leading up to the \u2018Great Lockdown\u2019, however, even on a quarterly basis, we are not seeing the catastrophic falls in house prices we would expect to see following such a sharp increase in unemployment,\u201d she said.<\/p>\n

Housing experts have forecast falls of between 10 per cent and\u00a030 per cent, but so far the decline has been fairly slight, with Conisbee saying this is partly due to the fact that most job losses affected renters rather than owners.<\/p>\n

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