CoreLogic weekly Australian house price update: rising

In the week ended 25 July 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.05%:

Values rose across all major markets except Adelaide:

So far in July, dwelling values have risen by 0.04% across the five major capitals, driven by the three biggest markets:

The quarterly decline is running at 0.63%, with all major markets suffering losses:

Annual losses are running at 7.7%, driven by Sydney, Melbourne and Perth:

The next chart plots month-end price growth across the major capitals, which shows stabilisation across Sydney, Melbourne and at the 5-city level:

Finally, dwelling values have fallen by 10.7% since their most recent peak, led by Sydney (-14.8%), Melbourne (-10.8%) and Perth (-20.1%):

Sydney’s and Melbourne’s markets look to finally have bottomed, as reflected by surging auction clearance rates:

Comments are hidden for Membership Subscribers only.