September marked a striking turn in housing market sentiment; consumer confidence increased, new listings rose, and six of the eight capital cities recorded a rise in home values over the month, according to the Core Logic Home Value Index.
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At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent.
Australia’s property downturn accelerated in July, with Cotality’s national Home Value Index (HVI) dropping 0.7% — the steepest monthly decline since December 2022. The weakness is no longer limited to Sydney and Melbourne, as mounting demand-side pressures pushed previously resilient mid-sized capitals into negative territory.
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