Australian home prices accelerate, defying interest-rate squeeze

(Image: Bloomberg)

Mon, 04 Mar 2024

By Emma Partis and Swati Pandey(Bloomberg) -- Australian home prices accelerated in February, extending gains at a time of elevated interest rates, reflecting a spike in population growth and a dearth of new housing construction.Sydney prices climbed 0.5% last month while Melbourne nudged up 0.1%, resulting in an overall increase of 0.6% for Australia’s major cities, property consultancy CoreLogic said in a report on Friday. The two fastest-growing markets were mining powerhouse Perth, and Adelaide, which advanced 1.8% and 1.1%, resp...

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