CoreLogic weekly house price update: Fugly

By Leith van Onselen

In the week ended 13 December 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, tanked another 0.35%:

Values fell across all major markets except Adelaide:

So far in December, dwelling values have fallen by 0.63%, driven by heavy losses across Sydney, Melbourne and Perth:

The quarterly decline has steepened to 2.45%, with Sydney, Melbourne and Perth again suffering heavy losses:

Over the past 12 months, home values have fallen by 6.0%, again driven by Sydney, Melbourne and Perth:

The next chart plots price growth across the major capitals, which shows prices falling in Sydney, Melbourne, and Perth, whereas they are rising slowly elsewhere:

As shown below, dwelling values have fallen by 6.5% since their most recent peak, led by Sydney (-10.2%), Melbourne (-6.5%) and Perth (-15.2%):

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