In the week ended 16 January 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose another 0.14%:
The rise in values was fairly broad-based, but again driven by Sydney and Melbourne:
So far in January, dwelling values have risen by 0.39%, driven by Melbourne and Sydney:
Quarterly dwelling values continue to rise strongly, driven by Sydney and Melbourne, where prices are still 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-December), which shows strong rebounds across Sydney and Melbourne, which have driven an increase at the 5-city level:
Finally, dwelling values are down by 4.0% since their most recent peak, driven by Sydney (-6.0%) and Perth (-21.5%):
The rebound continues, although judging by the first chart, the gains appear to be slowing.
Leith van Onselen
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