Australia records strongest annual growth in home prices

Residential property prices surged 23.7% in 2021, according to the latest ABS report

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Residential property prices reached their strongest annual growth on record last year, rising 23.7% in the last 12 months.

According to the Australian Bureau of Statistics residential property prices index report, which began reporting in 2003, the total value of the nation's 10.8m homes grew by $2tn to a record $9.9tn last year.

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