Australia's CoreLogic home value index at the 5-city aggregate level rose 1.4 percent in May 2023, the largest monthly gain since October 2021, suggesting a strengthening housing market despite the unprecedented policy tightening measures implemented by the Reserve Bank of Australia in recent months. Prices have been rising due to a decline in the number of properties listed for sale, increasing demand from returning overseas migration, a tight rental market, and investors being attracted back to the market as rental income and yields rise. Among the major cities, Sydney experienced the most substantial price growth, with a 1.8 percent increase during the month, which represents the largest gain since September 2021. Brisbane and Perth followed closely behind, with gains of 1.4 percent and 1.3 percent, respectively. In addition, Melbourne and Adelaide also saw a faster pace of growth in home prices, with both capital cities recording a 0.9 percent increase during the same period. source: CoreLogic, Australia

CoreLogic Dwelling Prices MoM in Australia averaged 0.46 percent from 1980 until 2023, reaching an all time high of 4.40 percent in July of 1980 and a record low of -8.10 percent in November of 1980. This page includes a chart with historical data for Australia CoreLogic Dwelling Prices MoM. Australia CoreLogic Dwelling Prices MoM - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

CoreLogic Dwelling Prices MoM in Australia is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia CoreLogic Dwelling Prices MoM is projected to trend around 0.10 percent in 2024 and 0.60 percent in 2025, according to our econometric models.

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Australia CoreLogic Dwelling Prices MoM



Calendar GMT Actual Previous Consensus TEForecast
2023-04-30 02:01 PM Apr 0.7% 0.8% 0.7%
2023-06-01 12:01 AM May 1.4% 0.7% 1.2%
2023-06-29 02:01 PM Jun 1.4% 1.1%

Australia CoreLogic Dwelling Prices MoM
In Australia, the CoreLogic Home Value Index aims to measure month to month movements in the value of Australian housing markets. Rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the CoreLogic Home Value Index is based on a ‘hedonic’ methodology which includes the attributes of properties that are transacting as part of the analysis. The Home Values Index provides monthly capital growth measurements across three broad housing types: detached houses, units and a combined dwellings index that includes both houses and units. The Index results are released on the last working day of each month and are available on a subscription basis.
Actual Previous Highest Lowest Dates Unit Frequency
1.40 0.70 4.40 -8.10 1980 - 2023 percent Monthly
NSA

News Stream
Australia House Price Recovery Gathers Pace in May
Australia's CoreLogic home value index at the 5-city aggregate level rose 1.4 percent in May 2023, the largest monthly gain since October 2021, suggesting a strengthening housing market despite the unprecedented policy tightening measures implemented by the Reserve Bank of Australia in recent months. Prices have been rising due to a decline in the number of properties listed for sale, increasing demand from returning overseas migration, a tight rental market, and investors being attracted back to the market as rental income and yields rise. Among the major cities, Sydney experienced the most substantial price growth, with a 1.8 percent increase during the month, which represents the largest gain since September 2021. Brisbane and Perth followed closely behind, with gains of 1.4 percent and 1.3 percent, respectively. In addition, Melbourne and Adelaide also saw a faster pace of growth in home prices, with both capital cities recording a 0.9 percent increase during the same period.
2023-06-01
Australian Home Prices Rise for 2nd Month
Australia’s CoreLogic home value index at the five-city aggregate level rose 0.7% from a month earlier in April of 2023, easing from the 0.8% increase in March, but marking the second consecutive month of price growth after 10 consecutive periods of home value deflation. The result was largely due to a worsening imbalance between supply and demand, as a higher pace of overseas migration coincided with a lack of housing availability. Underscoring the developments, CoreLogic noted that auction clearing rates held above the long-term average. The highest increases were noted in Sydney (1.3%) and Perth (0.6%), while prices in Brisbane (0.3%), Adelaide (0.2%), and Melbourne (0.1%) rose to lower extents.
2023-04-30
Australia Home Prices Rise for 1st Time in 11 Months
Australia's CoreLogic home value index at the 5-city aggregate level rose 0.8 percent from a month earlier in March 2023, pointing to the first month of price increase since April 2022, and the largest since January 2022. The latest price rebound was supported by lower new listing volumes and tight supply, and came in despite two consecutive 0.25 percent interest rate rises from the RBA in early February and early March. Most capital cities posted gains over the month, with Sydney (1.4 percent), Melbourne (0.6 percent) and Perth (0.5 percent) leading the gains. Home prices in Brisbane were just 0.1 percent higher, while those in Adelaide moved down 0.1 percent. On a yearly basis, home prices were down 8.7 percent, driven by declines in the three major capital city markets: Sydney (-12.1 percent); Melbourne (-9.0 percent); and Brisbane (-8.2 percent).
2023-04-02