CoreLogic monthly update
Sydney led the housing price index gains in May, with a 3 per cent increase, with Hobart also recording a 3.2 per cent increase (again).
Brisbane also recorded a 2 per cent price increase in the month, to be 10.6 per cent higher over the year.
There have also been some interesting regional trends, with regional prices up 2 per cent.
The full CoreLogic report can be found here.
Stock levels fell sharply in May, with a decline of 16,664 properties according to SQM Research's latest figures, with marked tightening in evidence in Hobart and Adelaide.
Source: SQM Research
CoreLogic also sees listings miles below their 5-year average.
Election looming
All cities have seen a price increase since PM Morrison pulled off his "miracle" election win of May 2019, with Sydney a notably strong performer since that time.
This time around there may prove to be less housing market disruption from the election campaign for a few reasons.
Firstly, Labor seems unlikely to run with its previously proposed reforms for capital gains tax, and negative gearing.
Secondly, the ALP's likely housing market proposals are focussed supply-side measures, with 30,000 affordable social dwellings to be built over 5 years at a cost of $10 billion (a drop in the ocean given the 200,000 households registered on waiting lists).
And thirdly, because according to the latest Betfair odds Labor will most likely lose anyway, with the incumbent Coalition likely to run hard with a 'tough on the virus' message.
