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Hmm, not looking so good suddenly. Via CoreLogic leading indexes:
Now roughly flat year on year and the base is very weak so it is a set up for further price falls. Especially so when this is owner-occupier only, the strongest segment, and investors are fleeing falling rents.
There is some offset in very weak listings:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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