CoreLogic: Aussie dwelling values rise 0.1% in July

CoreLogic’s dwelling price results have been released for July, which reveals a 0.1% increase in values recorded over the month at the 5-city level:

It was the first monthly rise in home values at the 5-city level since August 2017:

In the July quarter, dwelling values fell by 0.42% across the major capitals:

Over the July quarter, values were down across all major markets except Melbourne:

In the year to July 2019, home values have fallen by 7.5% at the 5-city level, driven by Sydney (-9.0%), Melbourne (-8.2%) and Perth (-8.9%):

However, the next chart, which tracks trend annual price growth, shows a rebounding trend:

Whereas the below chart tracking price growth on a quarterly basis shows a sharper turnaround:

The housing market has clearly turned, led by Sydney and Melbourne where auction clearance rates have rebounded strongly:

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