Retirement village operators breathes sigh of relief as national property values surge

Property values are rising steadily across Australia, according to a promising new report – good news for village operators with deposits they can’t settle.

CoreLogic’s Home Values Index report reveals a 1.2% recovery in national dwelling values over October, the fourth consecutive month of rising value.

In Sydney and Melbourne property prices surged 2.3 percent in October – the largest monthly gain since November 2009.

The national value of Australian property is up 2.9 % since June 2019, bringing property levels to a similar level to where they were three years ago.

All major capital cities, except Perth, recorded a jump in values, believed to be credited to low mortgage rates, stamp duty exemptions and stronger population growth.