CoreLogic’s daily home values index for May showed that quarterly values are falling fastest in Melbourne (-1.2%) and Sydney (-0.9%), which has dragged the five-city index down by 0.7% over the quarter:
As we have reported previously, first home buyer (FHB) stamp duty incentives were introduced in both NSW and VIC from 1 July 2017, which has driven a 63% and 24% respective lift in the number of FHB housing finance commitments versus the prior year:
Advertisement