Australian Property Values Ended the Year 22 Percent Higher but Subdued Conditions Expected in 2022

Apartment buildings and houses at Neutral Bay in Sydney, Australia, on July 22, 2021. AAP Image/Mick Tsikas

The Australian property market grew 22.1 percent during 2021 on the back of low interest rates but ended the year on a subdued note CoreLogic revealed, with the national median house value in December only rising one percent,  down from 1.3 percent in November.

It reflects the cooling market as the monthly growth rate had continued to soften since March last year when it reached its peak growth of 2.8 percent.