The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
A one-day deep dive on office, retail, healthcare, childcare and alternative sectors
UPCOMING | COMMERCIAL REAL ESTATE SUMMIT
LEARN MOREDETAILS
On Demand

Fireside Chat | Inside GemLife With Adrian Puljich

Building Australia's Newest Airport: Multiplex

The Makers Of The Mondrian | Design, Vision And Delivery Behind One Of Australia’s Most Anticipated Luxury Hotels

Next Gen Now | How Emerging Developers Are Redefining The Game

View All >
Latest News
Scape RMIT PBSA
Student Housing

Scape Eyes University Campus Accommodation Takeovers

Leon Della Bosca
5 Min
Plans for 3-7 River Terrace, tweed heads by turner for briscoe hotel group
Placemaking

Briscoe Greenlit for ‘Transformative’ Tweed Project

Renee McKeown
2 Min
Real Estate

How Rising Costs are Rewriting Portfolio Strategies

Partner Content
6 Min
Placemaking

Queensland Seeks Developer for South Brisbane Visy Site

Lindsay Saunders
3 Min
View All >
Events
Lunch

Women’s Leadership Lunch

Summit

Commercial Real Estate Summit

Summit

Urban Leader Awards

One-Day Course

Property Development Masterclass | Melbourne

View All >
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
SHARE
4
print
Print
ResidentialDinah Lewis BoucherMon 01 Apr 19

Pace of Housing Downturn Slows in March

e6403f54-67e2-4e29-b589-2514705c1c69

Australia's falling dwelling values slowed its pace in March, but the scope of the downturn has widened geographically, reveals the latest Corelogic figures.

Corelogic’s national home value index results reveals the pace of declining property values eased relative to the past four months, declining 0.6 per cent in March, the smallest of the month-on-month declines since values fell by 0.5 per cent in October last year.

Housing values were down across six of the eight capital cities, with Canberra values holding firm and Hobart values 0.6 per cent higher.

Related: Property Prices Fall at Fastest Rate Since GFC: ABS


Corelogic head of research Tim Lawless said the downturn has become more widespread with dwelling values also down in five of the seven ‘rest of state’ markets over the month.

Most of the “rest of state” regions, the areas outside the capital cities, also recorded a drop in values; with exception to regional Tasmania ( up 0.5 per cent) and regional South Australia ( up 0.3 per cent).

Capital city sub-regions

The weakest areas of the capital cities are now confined to Sydney and Melbourne, reveals the data, with some bias toward the more expensive areas of the cities.

Melbourne’s prestigious inner east has recorded the largest decline in values over the past twelve months (-16.1 per cent) followed by Sydney’s Ryde (-14.7 per cent) and Sydney’s Inner South West (-14.1 per cent).

Dwelling values across the country have now been trending lower for seventeen months and have fallen by a cumulative 7.4 per cent, since peaking in October 2017.

Related: Million Dollar Suburbs Tank as House Prices Fall

CoreLogic says Melbourne’s prestigious Inner East has recorded the largest decline in values over the past twelve months.


Markets, such as Darwin and Perth, where values peaked much earlier have experienced a larger downturn, with dwelling values now down by a cumulative 27.5 per cent and 18.1 per cent respectively since peaking in 2014.

Whereas dwelling values remain at record highs across Hobart and regional Tasmania.

House values dropped slightly in Brisbane, by 0.6 per cent, to be 1.3 per cent lower through the year.

Adelaide was up 0.2 per cent in the month, up by 0.8 per cent over the year.

While the housing market has shown some tentative signs the downturn in dwelling values might be “losing some steam”, Lawless says the housing market's outlook will continue to be affected by “uncertainty related to the federal election, lending policies and more broadly, domestic economic conditions”.

ResidentialAustraliaBrisbaneMelbournePerthAdelaideCanberrado not useReal EstateSector
AUTHOR
Dinah Lewis Boucher
More articles by this author
TOP STORIES
Sud-slingers are back in action in 2025, with the Sydney market recovering after years of disruption.
Exclusive

Sydney Pub Market Rebounds After Post-Covid Lows

Patrick Lau
5 Min
Gelephu Mindfulness City: Bhutan how a city of the future is planned
Exclusive

Bhutan’s Mindfulness Masterplan Resetting How Cities Work

Renee McKeown
8 Min
Long Bay Correctional hero
Exclusive

Time to Rethink: Fresh Bid to Unlock Prison’s Prime Site for Homes

Clare Burnett
7 Min
Inside NSW Housing Divide-Mosman
Exclusive

‘The Machinery Underneath is Broken’: Inside NSW’s Housing Divide

Vanessa Croll
9 Min
Exclusive

Queensland Decade of Gigaprojects a Developer’s Goldmine

Phil Bartsch
5 Min
View All >
Article originally posted at: https://www.theurbandeveloper.com/articles/housing-downturn-pace-eases-in-march