‘Significant turnaround’ in Australian house prices defies predictions as demand rises

CoreLogic says if increase is maintained, prices will be 4% higher at the end of 2023, defying forecasts of falls of 10% or more

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A stronger than expected lift in demand over the past two months is nudging property prices higher and delivering the highest auction clearance rates in more than a year, data group CoreLogic says.

If the price rises are maintained for the rest of the year, home values will end up about 4% higher in 2023, defying earlier predictions of sharp falls of 10% or more for this year, CoreLogic says.

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