As CoreLogic house prices boom, Corelogic fundamentals weaken

I noted yesterday how Core Logic’s dwelling price growth has decoupled from the ABS’ housing finance data after 20-years of strong correlation:

And how Core Logic’s index is also at odds with Residex’s latest house price results, which noted that Sydney’s house price boom is “quickly easing”.

Earlier this week, Core Logic released its Quarterly Review (available for download here), which noted a bunch of factors that point to weakening housing market fundamentals and would normally go hand-in-hand with falling price growth. Below are some extracts from this report.