Domain figures show Australia’s housing market climbed back to record highs at the close of 2020 despite the impact of the COVID-19 pandemic.
The December quarter saw a 4.1% surge in house and unit prices, to $852,940 – the largest quarterly jump for four years.
House price records were smashed in every capital city except Darwin with the median house price in Sydney climbed to $1.21 million.
But it was the regions which proved to be the biggest movers with the Sunshine Coast, north of Brisbane, recording its highest price growth since 2008 with a jump of more than 10% while Byron Bay recorded a staggering 26% surge in house prices.
The numbers may not provide the full picture however.
Experts have pointed out that the pullback in buyers and sellers in the early part of the pandemic had contributed to the increased demand, fuelled by low interest rates and Government support.
