Business Research & Insights

Welcome to CoreLogic’s housing market update for October 2024. The latest housing data shows values are still rising - at least at a macro level - but the pace of growth is losing steam and conditions are becoming more diverse from region to region. National dwelling values rose +0.4% in September, the twentieth straight month of rising values at a national level.

At a high level, there is still more demand for housing than available supply, but the flow of advertised supply and demand are becoming increasingly balanced.

CoreLogic’s national Home Value Index recorded a 0.8% rise in September as the recovery trend moved through an eighth consecutive month of growth.

The national Home Value Index rose 0.8% in August marking a sixth consecutive month in this growth phase.

This article first appeared in the Australian Financial Review.

The national measure of dwelling values recorded a third consecutive rise last month, with the pace of growth accelerating sharply to 1.2%. After finding a floor in February, dwelling values nationally have increased 2.3% in the three months to May, following a 9.2% drop.

CoreLogic's national Home Value Index moved through a seventh month of decline last month with values dropping -1.0%, bringing values approximately -$53,400 below April's peak.

CoreLogic’s national home value index moved through its sixth month of decline last month, with values down a further 1.2%, taking the cumulative drop from the market peak to 6.0%.

Market sentiment: is it a good time to buy, sell, renovate & other property intentions

The housing downturn accelerated through August, as falling values became more widespread, taking CoreLogic’s national Home Value Index into a fourth consecutive month of decline. The national index was down -1.6% over the month, which was the largest month-on-month decline since 1983.

Our national Home Value Index recorded a second consecutive month of decline in June, down -0.6%, to be -0.2% lower over the June quarter.