CoreLogic weekly Australian house price update: skyrocket

In the week ended 19 September 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged another 0.34%:

The rise in values was again driven by Sydney and Melbourne, where values rocketed:

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

However, annual losses are still running at 5.0%, 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 9.1% since their most recent peak, led by Sydney (-12.4%), Melbourne (-8.4%) and Perth (-21.1%):

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

Leith van Onselen
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