Housing prices gained momentum in April after stalling in March, preliminary figures from CoreLogic RP Data show.
Prices rose by 1.5 per cent in April after gaining only 0.2 per cent in March, according to an estimate based on sales in the mainland state capitals for the first 28 days of April
Detailed data for the whole month and covering all capital cities and regions will be published on Monday, CoreLogic RP data said.
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.
Cotality’s national Home Value Index (HVI) fell 0.4% in June, the largest monthly decline since December 2022, led by drops in Sydney (‑1.2%), Melbourne (‑1.0%) and the ACT (‑0.6%).
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent.
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