Australian Housing Market Update: July 2018
CoreLogic’s national housing market index showed a remarkable reversal in housing market conditions over the past year.
A year ago, national dwelling values were up 10.2%, largely driven by surging values in Sydney where the market was up 16% and Melbourne where values had tracked 13% higher over the year. The most recent financial year has seen the national index slide 0.8% lower, with Sydney values down 4.5% and Melbourne values edging only 1% higher.
Although most of the focus has been on slowing conditions in Sydney and Melbourne over the past year, every capital city apart from Perth has shown a weaker performance over the most recent financial year relative to 2016-17, although there are some variances across the product types and valuation segments.
As always, there are substantial differences in the housing markets performance across each of the capital cities.
Take a look at the national update or your capital city update by clicking on the relevant link below: