CoreLogic’s daily property index validated by ABS

Last month, Martin North and John Adams challenged the credibility of the various private sector property indices, which were reporting strong rebounds in property values, claiming “the establishment has sought to kill the counter narrative that the market is falling”.

I brushed off their claims at the time and said that “we’ll get confirmation when the ABS releases its price data for the September quarter on 10 December”.

Well, it turns out that the ABS property price index for September, released earlier this week, was almost identical to the results published by CoreLogic on 1 October:

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