In the week ended 7 November 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 driven by Sydney and Melbourne:
Quarterly dwelling values continue to rise strongly, driven by Sydney and Melbourne, where prices are rocketing:
The rebound across Sydney and Melbourne has shrunk annual losses, although Perth continues to crash:
The next chart plots month-end price growth across the major capitals (to end-October), which shows strong rebounds across Sydney and Melbourne, which have driven an increase at the 5-city level:
Finally, dwelling values have fallen by 7.1% since their most recent peak, led by Sydney (-9.9%), Melbourne (-5.5%) and Perth (-21.7%):
Thus, the bounce continues, as reflected in strong auction clearance rates across Sydney and Melbourne (albeit on soft volumes):
