Pursuits
Sydney Home Prices Surge at Fastest Annual Pace Since 2002
- Values rose 18.4% in year to February, CoreLogic says
- Lending curbs are failing to slow booming Australian market
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Dwelling values in Australia’s largest city rose at the fastest annual pace in 14-years in February as record-low interest rates outweighed regulatory efforts to avert a housing bubble.
Average values in Sydney surged by 18.4 percent, the biggest jump since December 2002 when the nation was at the tail-end of the early 2000’s housing boom, according to data provider CoreLogic Inc. Across the state capitals combined, values rose by 11.7 percent.