In the week ended 30 July 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.21%:
It was the 12th consecutive weekly decline.
The falls were biggest in Melbourne, with Perth and Sydney also posting sharp falls:
So far in July, dwelling values have fallen by 0.79%, with Melbourne and Sydney hammered:
Quarterly dwelling values are falling, led by Melbourne:
Annual price growth remains strong but fading fast:
The next chart plots month-end price growth across the major capitals (to end-June), which shows the turn down across Sydney and Melbourne:
Finally, dwelling values are down 2.2% from their pre-COVID peak, driven by Melbourne (-3.7%):
I’ll be back later today with the month-end results, along with some different charts.