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.
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.
Cotality’s national Home Value Index held steady in May, signalling a further loss of momentum across most housing markets. Beneath the flat national result, Sydney and Melbourne are leading the downturn, with dwelling values declining 0.9% and 0.8% respectively over the month, and now sitting 2.1% and 2.9% below their cyclical peaks in November last year. The ACT also recorded a modest fall, with values down 0.2% in May.
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