Murray Bridge is Australia's top-performing property market since COVID
Good news for local home owners, but bad news for buyers: recent analysis has revealed that the median value of a Murray Bridge home has more than doubled since 2020.
Murray Bridge has topped the national tables once again, but this time it's not for being the best place to visit.
The city's housing value has more than doubled since the start of the COVID-19 pandemic.
Since March 2020, Murray Bridge has had a 101 per cent increase in house prices, with the median value of a home now $496,101, according to a recent report.
It's the only significant urban area in Australia to have recorded growth of more than 100% since the onset of COVID, five years ago.
After Murray Bridge, the top five price rises included:
- Kingaroy, Queensland: 95.6%
- Geraldton, Western Australia: 94.4%
- Gympie, Qld: 94.3%
- Busselton, WA: 93.4%
For homeowners, regional living has had its perks since 2020: housing in regional areas has risen a lot more compared to capital cities.
The combined regional area of Australia recorded a 56.3% gain in values since March 2020, compared with a 33.6% rise across the combined capitals.
When adjusted for local incomes, Adelaide is among the most unaffordable capitals, with the second-highest unaffordability metrics after Sydney.
Adelaide recorded the second-highest cumulative rise in values across the capitals, up 73.1% or approximately $347,092.
South Australia came into the cycle from a slow run of growth, with values 'only' rising by 11.1% in the five years ahead of March 2020.
- Read more: www.corelogic.com.au.
