In the week ended 23 December, the CoreLogic daily dwelling values index rose only 0.11%:
Brisbane and Adelaide drove growth, whereas Melbourne fell:
So far in December, dwelling values have risen by 0.42% across the five major markets led by super strong growth across Brisbane and Adelaide. Melbourne values have fallen:
Quarterly price growth remains strong but slowing fast at 3.30% across the five major capitals. Brisbane (8.25%) and Adelaide (7.27) lead the way, followed Sydney (3.06%), Melbourne (1.63%) and Perth (0.32%):
So far in 2021, major capital dwelling values have risen by 20.6%, led by Brisbane (27.5%), Sydney (25.1%), and Adelaide (22.5%):
The Australian property is clearly becoming two-speed. Brisbane and Adelaide are booming, whereas the other major capitals are slowing fast, with Melbourne values now falling.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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