In the week ended 23 July 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.18%:
It was the 11th consecutive weekly decline.
The falls were broad-based:
So far this month, dwelling values have fallen by 0.58%, with Melbourne and Sydney hammered:
Quarterly dwelling values are falling, led by Melbourne:
Annual price growth remains strong but 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 2.0% from their pre-COVID peak, driven by Melbourne (-3.4%):