Australian house prices continued to rise in March, shrugging off the initial impacts of the virus crisis on real estate.
New price data published this week by two key research sources show that house prices rose in capital cities and in regional markets during the month, despite government restrictions on auctions and open inspections and the generally negative sentiment in the community.
CoreLogic figures showed every capital city and all regional jurisdictions except the Northern Territory recorded rises in house values during March. There was a similar result for house prices in the latest quarter. Nationally, house prices increased 0.7% and apartments prices 0.6% in March, according to the CoreLogic data. The SQM Research figures also show no evidence of any negative reaction to the coronavirus situation. Its figures show that there have been meaningful price rises during March for houses in Sydney, Melbourne, Perth, Canberra, Darwin and Hobart, with no change in Brisbane. Adelaide was the only city to record a small decline in March, according to SQM.