CoreLogic weekly Australian house price update: more boom!

In the week ended 5 September 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged another 0.27%:

The rise in values was broad-based, but again driven by Sydney and Melbourne:

Quarterly dwelling values are now rising solidly, again driven by Sydney and Melbourne:

However, annual losses are still running at 5.9%, driven by Sydney, Melbourne and Perth:

The next chart plots month-end price growth across the major capitals (to end-August), which shows rebounds across Sydney and Melbourne, which have driven an increase at the 5-city level:

Finally, dwelling values have fallen by 9.7% since their most recent peak, led by Sydney (-13.3%), Melbourne (-9.4%) and Perth (-20.7%):

However, the rebound is clearly on, as reflected in auction clearance rates (albeit on soft volumes):

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