Sydney recovery; Brisbane 2nd most expensive capital city (CoreLogic)

May 2024 home values

For completeness, CoreLogic released its monthly dwelling prices index, which increased by 0.8 per cent in May 2024.

That's the fastest increase of the year, mainly driven by Perth, Adelaide, and Brisbane, with stock levels in Perth and Adelaide way below their averages. 

Sydney's recovery continued over the quarter (+1.2 per cent), while Melbourne saw a modest decline in prices (-0.2 per cent):

Source: CoreLogic

Rental price inflation was 0.7 per cent, but that was the lowest increase since December 2023.

This may be a seasonal issue, but it hopefully signals lower pressure on inflation and rents ahead. 

CoreLogic noted that the mismatch between supply and demand continues. 

The lowest rates of growth have been seen in the upper quartile of the housing market. 

You can read the full report from from CoreLogic here.

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