SYDNEY: Australian home prices ended 2019 with the biggest quarterly rise in a decade, a remarkable return to boom from bust that promises to support consumer wealth and, perhaps, spending.
Data from property consultant CoreLogic out on Thursday showed home prices across the nation rose 1.1% in December, from November when they climbed 1.7%.
That brought the gains for the three months to December to 4.0%, the steepest rise since late 2009 and a world away from the punishing declines seen earlier in the year.
The resurgence was again led by the major cities with values in Sydney up by 1.7% in December and 6.2% for the quarter. Melbourne likewise boasted gains of 1.4% and 6.1% respectively.
Read more: https://realty.economictimes.indiatimes.com/news/industry/australian-home-prices-end-year-with-strongest-gains-since-2009/73069333
Data from property consultant CoreLogic out on Thursday showed home prices across the nation rose 1.1% in December, from November when they climbed 1.7%.
That brought the gains for the three months to December to 4.0%, the steepest rise since late 2009 and a world away from the punishing declines seen earlier in the year.
The resurgence was again led by the major cities with values in Sydney up by 1.7% in December and 6.2% for the quarter. Melbourne likewise boasted gains of 1.4% and 6.1% respectively.
Read more: https://realty.economictimes.indiatimes.com/news/industry/australian-home-prices-end-year-with-strongest-gains-since-2009/73069333
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