Residex: Sydney drags house prices down in January

Monday 29 February 2016

Residex has released its house and unit price results for January, which revealed a 1.37% fall in Australian house values over the month and a 0.39% fall in unit values. Over the year, house values rose by 5.83% nationally, with unit values up by 5.54%:

As shown above, Sydney (-1.86% MoM) and Perth (-1.94% MoM) were the clear drivers of the fall in house values in January, whereas Melbourne (+2.27% MoM) recorded a big rise.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.