Remember 2003? Well, that was the last time property prices were rising this fast.
Across Australia, the median property price jumped 2.1% in February, according to CoreLogic. That was the largest month-on-month change since 2003.
Meanwhile, prices rose in every capital city and every rest-of-state region – something that hadn’t happened since 2010.
In a rising market, it’s vital to get a home loan pre-approval in place as soon as possible if you’re thinking of buying. That way:
- You know what your limits are
- You have peace of mind you can make a competitive offer on a great home
- Agents or vends often favor buyers who have their finance sorted early
