CoreLogic: Headwinds building for housing market

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Following this morning’s post on CoreLogic’s daily dwelling values index results for September, which showed that Australian dwelling values fell for the 12th consecutive month, CoreLogic has released its full results, which also cover the smaller capitals and regional areas (see next table).

As shown above, the smaller capitals and the regions had a mixed month, with Darwin (-0.4%) and the combined regions (-0.2%) posting losses, whereas Hobart (+0.4%) and Canberra (+0.3%) rising.

CoreLogic also shows that capital city quarterly growth (-1.5%) continues to run below regional growth (-0.9%):

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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.