CoreLogic weekly house price update: still rising

In the week ended 9 January 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, surged another 0.20%:

The rise in values was fairly broad-based, but again driven by Sydney and Melbourne:

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 have fallen by 4.1% since their most recent peak, led by Sydney (-6.1%), Melbourne (-2.0%) and Perth (-21.5%):

The rebound rolls on.

Leith van Onselen

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