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CoreLogic has released its full dwelling value results for May, which reveals a 0.7% decline in values nationally and a 0.8% fall across the combined capitals – the second consecutive monthly decline:
As shown below, the five major capitals all recorded value falls in May, whereas the smaller capitals recorded rises:
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Value declines have been driven by the top quartile of the market:
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About the author
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.