Sydney home values ??surpassed their previous high in 2017, hitting a new record high, according to the latest figures from CoreLogic.
Tim Lawless, executive director of research at CoreLogic, said Sydney has reported significant capital gains on home values ??in recent months. In fact, home values ??in Sydney rose 5.7% after hitting a low in October.
“The recovery trend in Sydney after the 15.3% drop from July 2017 to May 2019 was halted by COVID-19, with home values ??falling 3.0% during the worst of the year. pandemic, ”he said.
Data for February shows Sydney values ??rose 2.8% from a year ago to settle at $ 895,933.
While this is good news for homeowners who wish to take advantage of their higher home value when refinancing, it remains a challenge for many potential buyers considering entering the market.
"With household incomes set to remain subdued and stimulus measures dwindling, affordability is likely to become a challenge again," Lawless said.
Top suburbs:
st marys
,
thebarton
,
Redcliffe
,
West Rockhampton
,
berala
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