CoreLogic weekly house price update: Still falling

In the week ended 2 July 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.16%:

It was the eighth consecutive weekly decline.

The falls were broad-based:

Quarterly dwelling value growth is negative, driven by Melbourne:

Annual price growth remains strong, but is fading:

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 by 2.7% since their most recent peak, driven by Sydney (-3.5%), Perth (-21.8%) and Melbourne (-1.9%):

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