{"id":34364,"date":"2021-09-03T09:13:08","date_gmt":"2021-09-02T21:13:08","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=34364"},"modified":"2021-09-03T09:13:08","modified_gmt":"2021-09-02T21:13:08","slug":"australian-house-prices-rising-at-fastest-yearly-pace-since-1989","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australian-house-prices-rising-at-fastest-yearly-pace-since-1989\/","title":{"rendered":"Australian house prices rising at fastest yearly pace since 1989"},"content":{"rendered":"<p><strong>PHOTO: <span class=\"dcr-19x4pdv\">Houses in Truganina in Melbourne\u2019s west. Australian house prices are surging at their fastest annual pace in more than 30 years, CoreLogic figures show.\u00a0<\/span>Photograph: Christopher Hopkins\/The Guardian<\/strong><\/p>\n<p class=\"dcr-s23rjr\">Australian house prices are growing at their fastest annual pace since 1989, although there are further signs the boom is coming off the boil.<\/p>\n<p class=\"dcr-s23rjr\">CoreLogic\u2019s national home value index rose 1.5% in August to an annual rate of 18.4%.<\/p>\n<p class=\"dcr-s23rjr\">While the monthly increase\u00a0was still above average, it was the smallest rise since January.<\/p>\n<p class=\"dcr-s23rjr\">CoreLogic\u2019s research director Tim Lawless said the slowing rate of price growth probably had more to do with worsening affordability constraints than ongoing Covid-19 lockdowns.<\/p>\n<p>https:\/\/www.instagram.com\/p\/CSIkkZSBbmi\/?utm_source=ig_web_copy_link<\/p>\n<p class=\"dcr-s23rjr\">\u201cHousing prices have risen almost 11 times faster than wages growth over the past year, creating a more significant barrier to entry for those who don\u2019t yet own a home,\u201d Lawless said.<\/p>\n<p class=\"dcr-s23rjr\">Annual\u00a0wage growth\u00a0is currently running at just 1.7%.<\/p>\n<p class=\"dcr-s23rjr\">\u201cLockdowns are having a clear impact on consumer sentiment, however, to date the restrictions have resulted in falling advertised listings and, to a lesser extent, fewer home sales, with less impact on price growth momentum,\u201d he said.<\/p>\n<p class=\"dcr-s23rjr\">He said an ongoing shortage of properties available for purchase was likely central to upward pressure on housing values.<\/p>\n<figure id=\"ea007e65-93b5-496a-83ae-ef3aee057214\" class=\"dcr-10khgmf\">\n<figure id=\"ea007e65-93b5-496a-83ae-ef3aee057214\" class=\"element-interactive element interactive css-6bibdn\" data-alt=\"Chart of national home value index for August\" data-cypress=\"interactive-element-Chart%20of%20national%20home%20value%20index%20for%20August\"><iframe data-src=\"https:\/\/interactive.guim.co.uk\/charts\/embed\/sep\/2021-09-01T03:15:22\/embed.html\" height=\"360\" data-mce-fragment=\"1\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" data-load-mode=\"0\"><\/iframe><\/figure>\n<\/figure>\n<p class=\"dcr-s23rjr\">Housing\u00a0values rose in every capital city in August, apart from Darwin, where they declined 0.1%.<\/p>\n<p class=\"dcr-s23rjr\">CoreLogic also withheld its index results for Perth and regional Western Australia \u201cpending the resolution of a divergence from other housing market measurements in WA\u201d.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.theguardian.com\/australia-news\/2021\/sep\/01\/australian-house-prices-rising-at-fastest-yearly-pace-since-1989-but-signs-boom-is-cooling\">THE 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Australian house prices<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/australian-house-prices-rising-at-fastest-yearly-pace-since-1989\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":34365,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478111086,478116926,478111920,478116788,478116052,478099480,478115182,478098512,478100564,478099532,478116620,478098521,478098726,478098892,478113277,478110413,478108952,478098566,478098562,478098542,478098519,478098535,478099030,478098513,478101743,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509,478103816],"class_list":["entry","author-data123nz","post-34364","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-aussie","tag-aussie-apartments","tag-aussie-banks","tag-aussie-dream","tag-aussie-first-home","tag-aussie-homes","tag-aussie-property-boom","tag-australia","tag-australian-house-prices","tag-australian-housing-market","tag-australian-real-estate-news","tag-australians","tag-chinese-buyers","tag-corelogic","tag-corelogics-national-home-value-index","tag-coronavirus-lockdowns","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-home-loans","tag-home-ownership","tag-house-prices","tag-housing-market","tag-property","tag-property-correction","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-news","tag-tim-lawless"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian house prices rising at fastest yearly pace since 1989 - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/australian-house-prices-rising-at-fastest-yearly-pace-since-1989\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian house prices rising at fastest yearly pace since 1989 - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Houses in Truganina in Melbourne\u2019s west. 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