CoreLogic weekly house price update: Big rise!

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.

Unconventional Economist
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