Still, subtle changes have put us on track to hit a record new peak in March 2020 if current trends continue.
Brissie values are growing second fastest only to Melbourne according to data from CoreLogic released this month.
“Brisbane is showing the next fastest recovery time frame (after Melbourne); not because values are rising rapidly, but mostly because the correction in values across Brisbane was quite shallow (down 2.9 per cent from peak to trough),” CoreLogic research director Tim Lawless told realestate.com.au.
Sydney is rising from a lower base and is not expected to hit a new peak for at least six months.
Perth and Darwin continue the slow trudge to recovery off spectacular mining boom highs and they are trending lower, as they have been doing for a good five years.
Nationally, values will take about six months to recover from their past peak.
But all these ebbs and flows can be bad news if they happen too fast.
Slow and steady growth is the friend of the first home buyer and the economy alike.
This gives just enough growth to boost the economy without spooking first timers out of the market.
Mr Lawless said the housing market recovery should provide some support for the national economy by boosting household wealth which would potentially lead to improved confidence and a greater willingness to spend.
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