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CoreLogic Weekly Report: A Snapshot of Property Price Changes in Australia
2 months ago
CoreLogic Weekly Report: A Snapshot of Property Price Changes in Australia

This week, CoreLogic has provided an update on property price trends across Australia’s major cities. The report highlights some mixed results, with fluctuations across the country’s housing markets.

Key Insights:

  • Sydney: Property prices remained flat over the past week, showing no significant changes. However, over the past month, prices increased by 0.1%, and compared to 12 months ago, they are up by a solid 4.0%.

  • Melbourne: The city experienced a slight decline in property prices, falling -0.1% over the last week and -0.2% over the past month. Over the past year, Melbourne's property market has seen a -1.9% drop in prices, reflecting ongoing market challenges.

  • Brisbane: Brisbane continues to experience steady growth, with prices rising by 0.1% over the last week and 0.7% over the past month. Over the past year, Brisbane property prices have surged by a notable 13.7%, making it one of the strongest performers among Australian capitals.

  • Australian Capital Cities Overall: Across all capital cities, dwelling prices increased by 0.3% over the last month and are now 6.5% higher than they were 12 months ago.

What Does This Mean for Buyers and Sellers?

For buyers in Brisbane, the market remains competitive with continuing price growth, while Melbourne buyers might find opportunities as prices have softened slightly. Sellers in Sydney and Brisbane are likely to benefit from steady to strong market conditions, whereas Melbourne sellers may need to be more strategic in pricing and marketing.

As the overall property market remains dynamic, staying updated on weekly and monthly trends is crucial for both buyers and sellers to make informed decisions.

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