Australian house prices are on the way up, moving into neutral or positive territory for the first time since Covid-19 hit.
First home buyers are driving the demand for houses, lured onto the market by low interest rates, tax cuts and changing preferences for post-lockdown living, according to the latest quarterly report from Domain.
House prices went up by 0.9 per cent in the September quarter and 4.6 per cent in the year across capital city markets.
This is a great improvement across the country compared to the June quarter, where prices dropped 2 per cent for houses and 2.2 per cent for units following a small increase earlier in the year.
However, unit prices are swaying to extreme levels, up 4.5 per cent in Darwin and down 9.1 per cent in Hobart in only three months.
House prices: September quarter