CoreLogic weekly house price update: More froth

In the week ended 20 May, the CoreLogic daily dwelling values index surged another 0.46%:

CoreLogic Weekly

Another strong weekly rise.

Sydney’s led the way again, with dwelling values rising another 0.57%. All other major capitals also rose in value:

CoreLogic weekly

Sydney still leading, followed by Brisbane.

So far in May, dwelling values have risen by 1.44%, led by Sydney (1.90%), with all other major capitals also recording strong growth:

Corelogic month-to-date

May is looking strong for dwelling values.

Quarterly price growth remains turbo-charged at 7.10% across the five major capitals. Sydney (9.26%) continues to lead the way, followed by Brisbane (6.29%), Melbourne (5.89%), Adelaide (4.99%) and Perth (3.70%):

CoreLogic quarterly

Quarterly growth remains turbo-charged.

So far in 2021, Australian dwelling values have risen by 9.07%, led by Sydney which has already recorded double-digit price growth:

CoreLogic year-to-date

Sydney has already surpassed double-digit growth in 2021.

Over the past 12 months, Australian dwelling values have risen 7.9%, with solid to strong growth recorded everywhere but Melbourne:

CoreLogic annual

Strong annual price growth everywhere other than Melbourne.

The boom rolls on.

Unconventional Economist

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