Australian Dwelling Prices Bulletin

Australian dwelling prices fell 0.1% in May, led by significant corrections in Sydney and Melbourne. Momentum is cooling nationwide as the effects of interest rate hikes and tax policy changes begin to materialize.

Key Takeaways

• 1.The Cotality home value index fell 0.1% in May, with previous months also revised lower, bringing annual growth down to 7.8%.
• 2.Sydney and Melbourne are leading the downturn with significant declines in both price and turnover, while other markets remain positive but are slowing.
• 3.Further market weakness is anticipated as the full impact of interest rate hikes and newly announced federal budget tax policy changes take effect.

Table of Contents

• Key points
• May Cotality home value index: -0.1%mth; +7.8%yr
• Slowdown deepens and widens but still very uneven
• The May price results by capital city were as follows
• Corporate Directory
• DISCLAIMER

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