Property markets ended on a strong note with prices continuing to rise throughout December, 2020.
It is normal for property markets to slow down over the holiday period, but that wasn’t the case this time: the ‘spring’ selling season continued well into summer as the markets played catch-up with lingering demand. With the exception of the public holidays, many real estate agents worked straight through the holidays to keep up.
All eight capital cities were up in December, as Melbourne finally shook off the effects of its sustained lockdown.
The biggest growth was Darwin, which grew 2.3% in December, and at the bottom end was Canberra, with just 0.6%.
Melbourne, Sydney, and Brisbane were middle of the road, at 1%, 0.7%, and 1.2%, respectively.
If this trend continues through January, property investors and homeowners can look forward to a strong start to the year as well.