Aussie home values surge 18 per cent, but can it last?

Australian home values rose 1.5 per cent in August, according to data released today by CoreLogic.

They are now up 18.4 per cent over the past year – the fastest annual pace of growth since the late 1980s.

The monthly figure was a slight easing in the pace of growth from earlier in the year. But prices are still rising at well above their long-term average, despite lockdowns.

So, why are prices rising so fast? Can it last? And what hope is there for first time buyers looking to get into the market?

Today on Please Explain, business reporter Clancy Yeates joins Jess Irvine to discuss.

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