CoreLogic weekly house price update: Another rise

In the week ended 29 October 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.09%:

It was the second consecutive weekly rise.

All major markets but Sydney recorded value rises:

So far in October, Dwelling values have risen 0.17% at the 5-city level, with all capitals except Melbourne rising:

Quarterly value declines are slowing fast with Melbourne the lead weight:

However, annual price growth continues to fade because of exceptionally strong growth this time last year:

Finally, dwelling values are down 2.9% from their pre-COVID peak, driven by Melbourne (-5.9%):

The housing market is turning.

Unconventional Economist
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