CoreLogic weekly house price update: 12th consecutive fall

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.

Unconventional Economist
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