Prices Booming Across The World
Australians aren’t the only ones experiencing a property market boom, with a new report revealing New Zealand is chalking up some of the highest price increases in the world.
Auckland was in the same league as Montreal, Los Angeles and Toronto, which all recorded price increases of at least 30% since early last year.
Montreal, up 39%, had the highest growth of the 21 cities analysed by Juwai IQI, which compared the latest 2021 price data with the first quarter of 2020. Auckland’s prices grew 32%.
Juwai IQI Group executive chairman Georg Chmiel says Australian cities were near the centre of the pack. Sydney was the highest-ranking capital city in Australia, followed by Perth which was in 9th spot. Brisbane ranked 11th in the list and Melbourne was ranked 14th.
Chmiel says Australian prices increases are “mild” compared with other capital cities of the world.
