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In the week ended 22 September 2016, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets slumped by 0.63%:
The fall in dwelling values nationally was driven by Sydney and Melbourne, with Perth also registering another sharp decline:
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Since the beginning of the year, home values have risen by 8.22%, with all capitals except Perth recording increases (see next chart).
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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.
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