The NSW CCCI recorded the highest quarterly growth rate on record (excluding the impact of GST in Sep 2000) over the three months to September 2021 at 3.8%, up from 1.3% over the three months to June 2021.
While annual growth in the NSW CCCI was the lowest of all five states at 6.6% in the year to September 2021, it was the highest annual growth on record for the state.
In comparison, the CCCI increased by 3.2% in the year to September 2020 across NSW.
Residential constructions costs continue to rise faster than consumer prices overall, with the CPI up by 0.7% over the three months to September 2021, after increasing by 0.8% over the previous three-month period.
CoreLogic figures show Sydney dwelling values were up 5.7% over the September quarter, and 23.6% annually, while regional NSW saw dwelling values increase by 6.1% over the quarter, and 26.7% annually.
As of September 2021, Sydney’s median house value is $1,311,641, while the median unit value is $824,860.
Across regional NSW, the median house value is $655,774, while the median unit value is $530,348.
About Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au
