2020 Property Market Recovery ‘Fastest Ever’: Corelogic

“Australia’s housing market looks set to make a full recovery by April after reaching its bottom last year, with the latest market research showing owner-occupiers lead the charge.

National dwelling values bottomed out 8.4 per cent below their peak in June 2019, with the market since recovering 6.7 per cent.

While most recovery periods match the length of time it takes to go from peak to trough, Corelogic head of residential research Eliza Owen says Australia’s residential market would make a full nominal recovery by April, if growth rates continue at the January trajectory of 0.9 per cent growth per month.

“Marking a 10-month recovery period since values found a floor last June,” Owen said.

“With record-high values expected across Australian dwellings in a few months’ time, 2020 will see the fastest market recovery on record with respect to the length of the downswing.””

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