Australia home prices boast bumper 2021 as rates stay low By Reuters

Australia home prices boast bumper 2021 as rates stay low By Reuters
Australia home prices boast bumper 2021 as rates stay low © Reuters. FILE PHOTO: New homes line a street in the Sydney suburb of Moorebank in Australia, May 26, 2017. Picture taken May 26, 2017. REUTERS/Jason Reed

By Wayne Cole

SYDNEY (Reuters) – Australian home prices boasted a bumper 2021 as rock-bottom interest rates drove values sky-high, with values in Sydney alone rising an average of A$4,200 every single week.

Figures from property consultant CoreLogic out on Tuesday did show some heat leaving the market as national home prices rose 1.0% in December, compared to 1.3% in November and a peak of 2.8% early in the year.

Prices were up 22% for the year, with a 26% jump in the regions outpacing a 21% increase for the state capitals amid a shift toward country living.

Sydney added only 0.3% in December, although that still brought its…

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