CoreLogic Australia house price index for November.
- +0.2% m/m and +9.3% y/y
Capital city dwelling values rose by 0.2% m/m
- Monthly capital gain reading was also the softest result since December 2015
- The combined regional areas of Australia showed a weaker result with house values falling by 0.2% over the month
Comments from CoreLogic;
- "Disaggregating this growth figure highlights the diversity in market conditions with Sydney and Melbourne at one end of the spectrum experiencing an increase in dwelling values over this period of 67.3% and 46.3% respectively, while at the other end of the spectrum, Perth and Darwin values have broadly declined since 2014. Perth values are 6.9% higher since the cycle commenced in June 2012, while Darwin values are 13.8% higher over this period."
- "It appears that higher unit supply is progressively weighing down the capital gains across Melbourne's unit sector, with annual capital gains tracking at 3.9% for Melbourne units compared with a 12.2% annual gain in Melbourne house values."
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Out at the same time, QV house prices from New Zealand (November):
- +12.4% y/y
- Slowest rate of increase since May ... but still, in your face, Australia!
more to come
