The CoreLogic June 2019 home value index results out this week showed national dwelling values were down 0.2% over the month, supported by subtle rises in Sydney, Melbourne and Hobart while other capital city home values continued to trend lower over the month.
According to CoreLogic head of research Tim Lawless, the June housing market results present an early sign that lower mortgage rates and improved sentiment are already having a flow-on effect for housing market conditions in Sydney and Melbourne, while most other regions of Australia continue to show relatively soft housing market outcomes.
National housing market conditions continued to improve through June, with CoreLogic reporting a 0.2% fall in national dwelling values; the smallest month-on-month decline in the national series since March 2018.
Highlights over the three months to June 2019
- Best performing capital city: Adelaide -0.4%
- Weakest performing capital city: Darwin -3.6%
- Highest rental yield: Darwin 6.0%
- Lowest rental yields: Sydney 3.5%
For more detailed CoreLogic analysis, please see the CoreLogic Hedonic Home Value Index, June 2019 Results.