CoreLogic Report | November

CoreLogic’s recent data has been released.

See the summary for November below:

• CoreLogic’s national Home Value Index surged 1.7% higher over the month and delivered the fifth consecutive monthly increase, coupled with the largest monthly gain in the national index since 2003
• Perth market values edged 0.4% higher in November; the first month-on-month rise in dwelling values since the downtrend took a pause in early 2018
• Sydney and Melbourne continued to drive the rapid recovery, with values up by 2.7% and 2.2% respectively over the month.
• The November results have seen CoreLogic’s national index nudge back into positive annual growth territory for the first time since April 2018, with dwelling values 0.1% higher over the past twelve months.

“The subtle rate of decline was heavily influenced by trends across Sydney and Melbourne where the pace of falling home values has been consistently reducing over the year to date. Importantly, the improving conditions through to mid-May were largely ‘organic’, pre-dating the positive boost in sentiment following the federal election and interest rate cuts in early June.” – Tim Lawless, CoreLogic research director.

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