CoreLogic’s dwelling value results for September are out at the 5-city level, with values falling another 0.27% over the month, driven purely by Melbourne and Sydney:
As shown above, all major markets other than Melbourne rose in value in October.
It was the first monthly rise in six months at the 5-city level:
Over the October quarter, dwelling values fell by 0.6% across the major capitals:
Melbourne has suffered the biggest quarterly falls, followed by Sydney. By contrast, Brisbane, Adelaide and Perth have registered rises:
The next chart plots quarterly price growth by major capital, which shows a shift in momentum:
The next chart tracks trend annual price growth. Perversely, despite the monthly rise, annual growth continued to fall due to exceptionally strong price growth at the same time last year:
The bounce back is on, driven by the smaller capitals.