When house prices start to drop Australians know **** is getting real! :-D
Now we have something to chat about at dinner parties all we need are dinner parties.
I digress….
CL comments on today's release:
Australian dwelling values posted their first month-on-month decline since June last year
- five of the eight capital city regions recording a fall in values
transaction activity in the market shows more positive signs
- CoreLogic estimate of sales activity bounced back by 18.5% in May after a (revised) drop of 33% in April.
CoreLogic head of research, Tim Lawless
"Considering the weak economic conditions associated with the pandemic, a fall of less than half a percent in housing values over the month shows the market has remained resilient to a material correction. With restrictive policies being progressively lifted or relaxed, the downwards trajectory of housing values could be milder than first expected."
AUD up a few tics. As are GBP. NZD, CAD and USD/JPY. A little yen cross buying going through.
