{"id":33723,"date":"2021-08-03T11:56:34","date_gmt":"2021-08-02T23:56:34","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=33723"},"modified":"2021-08-03T11:56:34","modified_gmt":"2021-08-02T23:56:34","slug":"600000-homes-bought-in-market-frenzy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/600000-homes-bought-in-market-frenzy\/","title":{"rendered":"600,000 homes bought in market frenzy"},"content":{"rendered":"

PHOTO: Australian property boom<\/strong><\/p>\n

Aussies went crazy for property in the past year, new data has revealed, as prices continued to jump to record breaking numbers.<\/p>\n

Property prices have soared 16 per cent higher in the past year, with Sydney\u2019s median house values skyrocketing by more than 21 per cent to $1.01 million, according to new data from CoreLogic.<\/p>\n

\n

While Australian housing values increased nationally by just 1.6 per cent in July, the latest rise takes housing values 14 per cent higher in the first seven months of the year, it found.<\/p>\n

Tim Lawless, CoreLogic\u2019s research director, said while the market remained strong, it was starting to lose steam.<\/p>\n

\u201cThe 16.1 per cent lift in national housing values over the past year is the fastest pace of annual growth since February 2004, however the monthly growth rate has been trending lower since March this year when the national index rose 2.8 per cent,\u201d he noted.<\/p>\n

Darwin and Tasmania recorded incredible increases in house prices annually. Darwin dwellings jumped in value by a whopping 30 per cent with the median value sitting at $486,000, while there was a 1.6 per cent rise in prices in July.<\/p>\n

Tasmanian wasn\u2019t far behind with an annual increase of 27 per cent taking the median value of a property to $621,100 and a 1.7 per cent increase in July.<\/p>\n<\/div>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

https:\/\/www.instagram.com\/p\/CR0tRJjFcDS\/?utm_source=ig_web_copy_link<\/p>\n","protected":false},"excerpt":{"rendered":"

PHOTO: Australian property boom Aussies went crazy for property inRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":33724,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098730,478098512,478110288,478114267,478099524,478116620,478098521,478117227,478098519,478098535,478117225,478098513,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098921,478098509,478098536,478098618,478117226,478103816],"class_list":["entry","author-data123nz","post-33723","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auctions","tag-australia","tag-australian-housing-values","tag-australian-property-boom","tag-australian-real-estate","tag-australian-real-estate-news","tag-australians","tag-corelogics-research-director","tag-home-ownership","tag-house-prices","tag-market-frenzy","tag-property","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-franchise","tag-real-estate-news","tag-sydney","tag-sydney-property","tag-sydneys-median-house-values","tag-tim-lawless"],"yoast_head":"\n600,000 homes bought in market frenzy - 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