In the week ended 12 December 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged another 0.32%:
The rise in values was broad-based, but again driven by Sydney and Melbourne:
So far in December, dwelling values have risen by 0.54%, 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 5.0% since their most recent peak, led by Sydney (-7.4%), Melbourne (-3.0%) and Perth (-21.2%):
The rebound rolls on.
Leith van Onselen
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