Prices down' rents up
The home value index fell -1.4 per cent last month, reported CoreLogic, though the pace of decline appears to be easing.
Prices nationally are now -4.8 per cent from their highs - you can pick out your own favourite location below.
Sydney housing values are down -9 per cent from their highs, with house prices falling faster than unit prices, especially in blue chip areas (albeit having boomed through the pandemic).
Source: CoreLogic
Capital city rents are up 16 per cent since the onset of COVID, and regional rents are up 25 per cent.
Rents are continuing to rise each month as vacancy rates fall and immigration begins to ramp up.
Interestingly new and total listings are now falling sharply, as there as so few forced sellers around.
Vendors are prepared to wait out the downturn, reported CoreLogic.
Source: CoreLogic
SQM reported that weekly rental listings hit new record lows this week, although the change this week was almost all driven by Sydney.
Source: SQM Research
CoreLogic also notes that the pulse of headline inflation appears to have moved through beyond peak last quarter, reducing the need for aggressive interest rate hikes going forward.
You can find the full CoreLogic report here.
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The Melbourne Institute inflation gauge pointed to a lower peak, and a loss of momentum over recent months, following the pattern of inflation expectations.
