CoreLogic over the weekend released its daily dwelling values index for July, which showed that property values across the five major Australian capital city markets surged another 1.6% over the month:
The rise in values was strong across all major capital city markets except Perth, with Sydney and Brisbane again leading the way:
Over the July quarter, dwelling values rose by a whopping 5.9% across the five major capital cities:
Sydney continues to lead quarterly value growth, rising by an insane 9.3%. However, value growth is universally strong outside of Perth:
The next chart shows the quarterly time series across the five major capitals, with growth slowing across all major markets:
By contrast, annual dwelling value growth is rising fast across all major capital city markets after falling this time last year:
In short, property prices are still booming; albeit losing some steam. The big exception is Perth, which is lagging behind.