COVID-19 Accelerates Australia’s Housing Price Surge: KPMG

COVID-19 Accelerates Australia’s Housing Price Surge: KPMG
The new KPMG report shows that the COVID-19 Pandemic has been a catalyst for Australia’s nationwide housing price surging over the last 12 months. Photo by WILLIAM WEST/AFP via Getty Images
Sophia Jiang
Updated:

A new report by KPMG Economics has found the pandemic has caused house prices in Australia to soar, and the effect could last for the next two years until rising mortgage rates and fundamentals of the housing market begin to place pressure back on the market.

The report compared housing price changes in capital cities around the country during periods with and without COVID-19 restrictions over the four-year period from December 2019 to December 2023.