๐๐ผ๐๐๐ถ๐ป๐ด ๐ฉ๐ฎ๐น๐๐ฒ๐ ๐ฅ๐ถ๐๐ฒ ๐ณ๐ผ๐ฟ ๐ง๐ต๐ถ๐ฟ๐ฑ ๐ฆ๐๐ฟ๐ฎ๐ถ๐ด๐ต๐ ๐ ๐ผ๐ป๐๐ต
The property market is back, judging by the latest data from CoreLogic.
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Australiaโs median property price has now increased for three consecutive months โ by 0.6% in March, 0.5% in April and a very strong 1.2% in May.
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As the chart shows, values increased in every capital city during May and in five of the eight capitals during the quarter.
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CoreLogicโs research director, Tim Lawless, said the price rises are being driven by a combination of persistently low levels of housing supply and rising demand.
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"With such a short supply of available housing stock, buyers are becoming more competitive and thereโs an element of FOMO creeping into the market," he said.
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