CoreLogic weekly house price update: Bubbling

In the week ended 5 December 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged another 0.41%:

The rise in values was broad-based, but again 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 driven annual gains nationally, although Perth continues to crash:

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

Finally, dwelling values have fallen by 5.3% since their most recent peak, led by Sydney (-7.7%), Melbourne (-3.40%) and Perth (-21.3%):

The strong rebound continues.

Leith van Onselen
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