The latest CBRE Australian Residential MarketView report released last week has found 'house building approvals' are up some 38.5% year-on-year (May) whilst for the March quarter, house prices across 'Australia's Capital City markets have risen some 11.1% year-on-year'.

The report also found:

"Sydney’s surging price growth showed little sign of easing in the first half of 2021, with a tapering now more likely later in the year".

"Melbourne’s price performance over the past six months has rivalled that of Sydney. The impact of now negative net interstate migration bears monitoring, however".

"Brisbane’s is benefitting from a new cycle of interstate migration with affordability and lifestyle attractiveness coming to the fore".

"Perth’s residential markets have begun to climb after looking to have ended their long down cycle during the final six months of 2020".

"Adelaide’s affordability in comparison with east coast markets remains its key advantage, although population growth remains low".

"Canberra’s economic stability provides the market with a strong base with pricing and rents at record highs".

View the full report here.