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%):
Leith van Onselen
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