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Monday, 1 June 2020

Housing values edge lower but resilient

Housing steady in May

There was a marginal -0.4 per cent decline in Aussie housing values in May according to CoreLogic:

Source: CoreLogic

The pullback was mainly driven by an unsurprising easing in the top quartile of the Melbourne market (-1.3 per cent), following its blistering run since the May 2019 election result.

Source: CoreLogic

Listings confidence and buyer activity are both now increasing.

Overall stock levels remain so low that housing market prices are expected to remain resilient. 

Source: CoreLogic

The Coalition government is expected to unveil its housing market stimulus later in the week.

The details haven't yet been clarified, but historically such stimulus packages have been effective in boosting the housing market.

CoreLogic's full monthly report can be found here