Sydney dwelling values are now 2.6% higher than their July 2017 peak, a remarkable recovery considering the -14.9% drop in values through to May 2019 and the further -2.9% fall throughout the COVID downturn.
The strong recovery trend can mostly be attributed to houses, rather than units, where values are up 10.8% over the past six months.
Unit values are 1.8% higher over the same period of time, and still 2.1% below their 2017 peak.
The typical house value rose to slightly more than $1.1 million in March.
Home sales are estimated to be 15% higher than a year ago across Sydney, while listing numbers were 15% lower, highlighting the lack of advertised supply relative to demand, which helps to explain the upwards pressure on home values.
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