CoreLogic weekly house price update: easing falls

By Leith van Onselen

In the week ended 18 April 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.07%:

Values fell across four major markets:

So far in April, home values have fallen by 0.35% at the 5-city level, with all major capitals falling:

The quarterly decline has moderated slightly to 2.42% – reflecting seasonality – with Sydney, Melbourne and Perth still suffering heavy losses:

Over the past 12 months, home values have fallen by 8.7%, again driven by Sydney, Melbourne and Perth:

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

As shown below, dwelling values have fallen by 10.1% since their most recent peak, led by Sydney (-14.3%), Melbourne (-10.7%) and Perth (-18.3%):

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