Subject: Five years on from COVID-19: How the housing market has changed

⚡️ Highlights:

1. Housing values have increased significantly since the onset of the COVID-19 pandemic, with national home values rising by 38.4% over the past five years.

2. The housing market experienced a temporary drop in early 2020 due to the initial shock of the pandemic, but quickly rebounded and saw a surge in values between July 2020 and April 2022.

3. There was a short but sharp decline in home values over nine months as interest rates rose, sentiment fell, and serviceability constraints impacted demand.

4. Despite challenges such as high interest rates and affordability issues, there was a second wave of growth in home values from February 2023 to October 2024.

5. The most recent data shows housing values leveling off, with a slight decrease between November 2024 and January 2025 before a slight increase in February. The market is adjusting to normalizing population growth, affordability challenges, and a cautious rate-cutting cycle.

✍️ Tim Lawless | Full Article

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