Australia's CoreLogic home value index at the 5-city aggregate level rose by 0.9 percent in July 2023, following a 1.3 percent gain in June. This marks the fifth consecutive month of increase in home prices, which can be attributed to a sustained squeeze on housing supply, despite further interest rate rises and weak turnover. Among the major capital cities, Brisbane and Adelaide experienced the most substantial price growth rates, with a 1.4 percent increase during the month in both cities. Perth followed closely behind, with a gain of 1.0 percent. Additionally, prices in Sydney and Melbourne also increased by 0.9 percent and 0.3 percent, respectively. source: CoreLogic, Australia

CoreLogic Dwelling Prices MoM in Australia averaged 0.47 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 August of 2023.

CoreLogic Dwelling Prices MoM in Australia is expected to be -0.40 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 Reference Actual Previous Consensus TEForecast
2023-07-02 02:01 PM Jun 1.3% 1.4% 1.4%
2023-08-01 12:01 AM Jul 0.9% 1.3% 1.1%
2023-09-01 12:01 AM Aug 0.9% 0.7%

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
0.90 1.30 4.40 -8.10 1980 - 2023 percent Monthly
NSA

News Stream
Australia Home Prices Rise for 5th Month in a Row
Australia's CoreLogic home value index at the 5-city aggregate level rose by 0.9 percent in July 2023, following a 1.3 percent gain in June. This marks the fifth consecutive month of increase in home prices, which can be attributed to a sustained squeeze on housing supply, despite further interest rate rises and weak turnover. Among the major capital cities, Brisbane and Adelaide experienced the most substantial price growth rates, with a 1.4 percent increase during the month in both cities. Perth followed closely behind, with a gain of 1.0 percent. Additionally, prices in Sydney and Melbourne also increased by 0.9 percent and 0.3 percent, respectively.
2023-08-01
Australia Home Prices Rise for 4th Month in June
Australia's CoreLogic home value index at the 5-city aggregate level rose by 1.3% in June 2023, marking the fourth consecutive month of increase, helped by a sustained squeeze on housing supply. The recent price gains came despite the unprecedented policy tightening measures implemented by the Reserve Bank of Australia in recent months. "A lack of available supply continues to be the main factor keeping upward pressure on housing values," said CoreLogic's research director, Tim Lawless. "Through June, the flow of new capital city listings was nearly 10% below the previous five-year average, and total inventory levels are more than a quarter below average." Among the major cities, Sydney experienced the most substantial price growth, with a 1.8% increase during the month. Brisbane followed closely behind, with a gain of 1.4%. Prices in Perth, Adelaide, and Melbourne also increased by 0.9%, 0.9%, and 0.7% respectively.
2023-07-03
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