CoreLogic Weekly house price update: still rising

In the week ended 9 April 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose another 0.19%: The rise in values was broad based: Quarterly dwelling values continue to rise, driven by Sydney followed by Melbourne: The rebound across Sydney and Melbourne has driven strong annual gains nationally, although Perth is still in the red: The next chart plots month-end price growth across the major capitals (to end-March), which shows strong rebounds across Sydney and Melbourne, which have driven an increase at the 5-city level: Finally, dwelling values are down by 1.3% since their most recent peak, driven by Sydney (-2.4%) and Perth (-20.6%): A correction is imminent, however, due to the coronavirus-induced economic meltdown.