CoreLogic’s Head of Research, Eliza Owen, has released research showing “clear signs of a sharp slowdown” in Australia’s housing market:
It has been three weeks since the government shutdown non-essential services, placed a temporary ban on auctions and open inspections, and essentially halted the economy in response to COVID-19.
From a values perspective, the CoreLogic hedonic index has been showing a loss of momentum in housing value growth rates since mid-March. Data through to mid-April has seen a continuation in this trend, with the combined capital city measure slipping into negative territory week-on-week for the first time since early August last year.
The full text of this article is available to MacroBusiness subscribers
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
