Australia’s Housing Boom Defies Lockdowns Even As Growth Eases

Australia’s housing market defied lockdowns in the nation’s two biggest cities to post a 1.5% rise in prices in August, even as the growth rate continued to steadily slow from its March peak.

Housing values in the country are up 15.8% this year, and 18.4% higher than 12 months ago, in contrast with the average annual wage growth of just 1.7%, according to CoreLogic Inc. data released Wednesday.