SYDNEY- 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 percent in December, compared to 1.3 percent in November and a peak of 2.8 percent early in the year.
Prices were up 22 percent for the year, with a 26 percent jump in the regions outpacing a 21 percent increase for the state capitals amid a shift toward country living.
Sydney added only 0.3 percent in December, although that still brought its gains for the year to 25 percent and produced a median home value of almost A$1.1 million ($790,460).
