Research Shows House Prices Without COVID-19 | Kanebridge News
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Research Shows House Prices Without COVID-19

A new report indicates the pandemic may have boosted house prices nationwide.

By Terry Christodoulou
Tue, Jul 13, 2021 2:19pmGrey Clock < 1 min

Australia’s property prices have risen at an alarmingly fast rate in the last 12 months. However, a new report from KPMG Economics indicates that property prices would’ve been lower than the current market should COVID-19 never have happened.

According to the report, The Impact of COVID on Australia’s Residential Property Market,  most capital cities were due for a significant uptick last year. That scheduled rise combined with ultra-low interest rates and government support to the housing market during the pandemic further stoked prices – adding hundreds of thousands of dollars to property values.

The report assessed the past 18 months compared to a no COVID-19 scenario and found that nationwide, house prices were between 4-12% higher and units up by 13% compared to what they would’ve been in a state of normalcy.

The report cites measures such as pushing the cash rate down to 0.1 per cent and introducing the HomeBuilder program as specific catalysts.

Further, the report by KPMG shows without the pandemic, house prices in Sydney would’ve risen by 13% to 1,119,000 by December 2023. They are now on track to rise 26% to 1,244,000.

Elsewhere, Brisbane’s house prices would have risen by 9% instead of the predicted 20% and Melbourne’s prices 19% instead of 24%.

Darwin was the only capital where house prices were modelled to fall – now is set to have a modest increase.



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1. Interiors beyond the primary palette 

Arent & Pyke: Interiors Beyond the Primary Palette : Arent & Pyke, Arent, Juliette, Pyke, Sarah-Jane: Amazon.com.au: Books

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2 House of Joy

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If there was ever a book title for our times, then this is it. With a subtitle of Playful Homes and Cheerful Living, this book champions fun in interior design, with bold and bright homes from around the world to delight and inspire. While there’s a good dose of the unexpected, like a disco ball in the garden, there’s no mayhem in these spaces. Instead, they’re beautifully executed to tempt even the most colour shy. Gestalten, $105  

3. Abigail Ahern Masterclass

Abigail Ahern's Masterclass :HarperCollins Australia

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5. Home by the Sea 

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For many Australians, the ocean holds an almost hypnotic appeal. Home by the Sea by Natalie Walton lets you imagine, for a little while at least, what it’s like living the dream in a beach shack in Byron Bay. The book tours 18 homes in and around the region and the hinterland owned by artists, designers and makers. With photography by Amelia Fullarton, it champions the good life. Hardie Grant, $60            

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