December 09, 2021

Australia’s Property Prices Smash Records in 2021 with Fastest Growth on Record

News & Insights
Australia's property market has surged through a record-breaking 12 months as prices rose at the fastest year-on-year rate in history.

Domain's End of Year Wrap for 2021 has revealed that in 2021, Aussie house prices rose an eye-watering 21.9 per cent, the fastest annual rate of growth on record.

More than 446,000 houses were sold in 2021 and more than 144,000 units were sold, both remaining on the market for the shortest time in more than half a decade.

“Sellers are now being enticed by record prices while tighter lending and affordability constraints have put a slight sting in buyer demand,” the report reads. “That means the year is closing in a different position to the start, with new listings coming to market quicker than they are being sold. “While it remains a sellers’ market, slowly the market is starting to tip in buyers’ favour.”