In the week ended 14 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 broad-based, but driven by Sydney followed by 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 6.6% since their most recent peak, led by Sydney (-9.2%), Melbourne (-5.1%) and Perth (-21.6%):
Thus, the bounce continues, as reflected in strong auction clearance rates across Sydney and Melbourne (albeit on soft volumes):
- Weekend Reading 11-12 July 2020 - July 11, 2020
- Westpac: Looming downside risks for US economy - July 10, 2020
- Victorian Treasurer unveils $6b emergency stimulus package - July 10, 2020
YOU MAY ALSO BE INTERESTED IN
Aussie banks force distressed property investors to sell
Data from the Australian Prudential Regulation
Melbourne's property market is in trouble
CoreLogic's research director, Tim Lawless,
Property insiders: Prices and rents to plunge
The latest NAB survey of property professionals
Scott Morrison: Mortgage collapse no cause for alarm
In yesterday's press conference at Parliament