CoreLogic Australian house prices fall for 13th consecutive month

By Leith van Onselen

CoreLogic’s dwelling price results are in for October, with another 0.63% decrease in values recorded over the month at the 5-city level:

It was the 13th consecutive monthly decline in home values, with values down a cumulative 4.5% over that period at the 5-city level:

Quarterly values also fell another 1.6%:

Over the October quarter, values were down across all major jurisdictions except Adelaide:

In the year to October, home values fell by 3.95% at the 5-city level, driven by Melbourne (-5.01%) and Sydney (-4.70%):

The next chart, which tracks trend annual price growth, shows a weakening trend driven by Sydney, Melbourne and Perth:

Finally, the below chart tracks price growth on a quarterly basis, with all major markets posting flat or falling growth:

Australia’s housing correction has accelerated, with no end in sight.

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