In the week ended 22 October 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, jumped by 0.13%:
It was the first rise in 24 weeks.
All major markets recorded value rises:
So far in October, Dwelling values have risen 0.09% 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 3.0% from their pre-COVID peak, driven by Melbourne (-5.9%):
There’s no doubt the housing market is turning. Take a bow Chris Joye and Cam Murray.