Capital city home values add 10% in 1 week amid lockdowns

Capital city home values add 10% in 1 week amid lockdowns
By Bianca Dabu
30 June 2021
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1 minute read
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Despite localised lockdowns, home values across the capital cities have continued to climb, but is this growth sustainable?
Confirming the market’s strength amid yet another COVID-19 outbreak, the average capital city house price soared 10.4 per cent in the week ending 29 June to $1.078 million, new research from SQM has revealed.
At the same time, the national average increased by 7.6 per cent to a median of $687,500.
“There are still more buyers than sellers in national property markets, and ... the market remains strong despite the new outbreak in COVID-19 cases and the end of JobKeeper and HomeBuilder earlier this year,” SQM Research’s managing director, Louis Christopher, said.

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