Property values across the national housing market continue to rise, but growth is slowing, and in three capital cities, prices have even started to decline. Over the past three months, house prices in Melbourne, Hobart and Darwin have dropped, the CoreLogic Hedonic Home Value Index for August revealed. July was still the 18th month in a row that national property values have continued to rise — there was a 0.5 per cent increase last month, and an identical increase in the month before.
2 per cent — have more than 30 per cent fewer homes for sale than the average for this time of the year. These dynamics are weighing on growth in national home values, compared to the speedy pace of growth this time last year. The home value index is up 1.7 per cent over the past quarter, compared with the 3.2 per cent increase over the equivalent period in 2023.