Australian home prices rose 8% in 2023 despite high interest rates

CANBERRA, Australia: In a reversal of trends from 2022, which saw a five percent drop, Australian home prices rose significantly in 2023.

However, high inflation and interest rate hikes have slowed growth through the year's final months.

According to data from property consultant CoreLogic released this week, national house prices increased by 8.1 percent in 2023, well under the 24.5 percent surge in 2021