Flufferfax is back today but it’s a different tone:
The first two weeks of spring have put more of a step into house price growth in Sydney and Melbourne, CoreLogic figures show.
Halfway into September, the data provider’s daily home value index shows a 5.3 per cent quarter-on-quarter growth in Sydney home values – up from the 3.9 per cent at the end of August – and a 5.1 per cent quarterly increase in Melbourne, up from 3.4 per cent.
CoreLogic’s figures as of September 14 also showed an improvement in Brisbane, Adelaide and Perth. The Queensland and SA capitals turned positive, while the pace of decline in Perth slowed.
The latest short-term figures are not necessarily definitive. The Reserve Bank of Australia last month singled out CoreLogic, saying it had ‘overstated’ price growth in Sydney and Melbourne. Figures from rival data provider SQM Research for the three months to 13 September show a more moderate picture, with Sydney houses unchanged and units up 1.1 per cent.
By that I assume they mean SQM’s asking price index which is not an actual pricing guide even if it is another marginal indicator contradicting CoreLogic.
Repeated humiliation finally pays!
