CoreLogic weekly house price update: Universal falls

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%):

 

Leith van Onselen
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