CoreLogic weekly house price update: Perth down again

In the week ended 29 July, the CoreLogic daily dwelling values index increased another 0.31% – the equal smallest weekly increase since early February:

CoreLogic weekly

Smaller rises.

All major markets except Perth recorded rising values:

CoreLogic

Perth stalling.

So far in July, dwelling values have risen by 1.48%, led by Sydney and Brisbane:

CoreLogic

Sydney and Brisbane leading, Perth lagging.

Quarterly price growth remains turbo-charged at 6.19% across the five major capitals. Sydney (8.24%) continues to lead the way, followed by Brisbane (6.16%), Adelaide (5.54%), Melbourne (4.59%) and Perth (1.92%):

CoreLogic quarterly

Strong everywhere but Perth.

So far in 2021, Australian dwelling values have risen by 13.7%, led by Sydney:

CoreLogic

Going big in 2021.

Over the past 12 months, Australian dwelling values have risen 14.7%, led by Sydney (18.1%), Brisbane (17.1%) and Adelaide (15.7%):

CoreLogic

Big annual rises.

It will be interesting to see whether the growing COVID outbreaks and lockdowns further slow the market. So far they have had only minor impact.

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