This is what a property boom looks like:

Housing values increased by 1.8% in April 2021 across Australia

Housing values have increased by 6.8% over the past three months to April 2021 which is 10.2% higher than the Covid lows of September 2020.

House values have risen at double the rate of unit values over January to April 2021. [Legal Practice Intelligence comment: possibly exacerbated by lack of immigration and overseas students as well as increasing interest in areas outside of metropolitan areas]

Auction clearance rates above 70%

Median Days on Market (combined capital cities) 26 days

Median Vendor Discount from list price (combined capital cities) 2.7%

Sydney dwelling values up 7.5% over 12 months. Average annual growth past decade 6.0%.

Brisbane dwelling values up 8.3% over 12 months. Average annual growth past decade 2.3%.

Adelaide dwelling values up 10.3% over 12 months. Average annual growth past decade 2.4%.

Hobart dwelling values up 13.8% over 12 months. Average annual growth past decade 4.7%.

Prediction: More vendors will be drawn into the market leading to the ‘busiest’ winter and spring for conveyancers in many years.

[Stats courtesy CoreLogic]