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Economics

Australia’s Housing Boom Is Back as Key Cities Hit Record-High Prices

  • Melbourne prices return to records; Sydney not far behind
  • Record low rates, easier credit have fueled rapid rebound
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Australian Property Booms Again

Australia’s housing boom is back in full swing with prices in Melbourne reaching a record high, and Sydney not far behind.

Property values in the eight state and territory capitals surged 1.2% last month, according to CoreLogic Inc. data released Monday.