Australian housing market update: March 2022
CoreLogic’s national Home Value Index posted a 0.6% gain last month, taking Australia’s housing market into the 17th consecutive month of increasing values.
While housing prices are still generally rising, the pace of growth in the national index has been easing since April last year. February’s growth of 0.6% marks the lowest monthly growth reading since October 2020 and is down from 1.1% in January and a cyclical peak of 2.8% in March 2021.
Every capital city and broad ‘rest of state’ region is now recording a slowing trend in value growth, albeit with significant diversity. Sydney and Melbourne have shown the sharpest slowdown, with Sydney posting the first decline in housing values since September 2020, while Melbourne housing values were unchanged over the month, following a similar relatively flat outcome in December and January.
Conditions are easing less noticeably across the smaller capitals, especially Brisbane, Adelaide and Hobart, where housing values rose by more than 1% in February.
Find out the latest news for each state by clicking the link and watching the videos below or read the full transcript.