Dwelling Values See National Decrease

Since the national index peaked 12 months ago, dwelling values have decreased by 2.7% - hardly a crash and a slower rate of decline relative to the previous housing market downturn which ran between June of 2010 and 2012.

Despite other capital cities seeing a decrease, Brisbane continued increase by 0.8%.

While Darwin and Perth are seeing downturn as dwelling values in the areas are 22% and 13% lower than they were during the 2014 peak, Sydney and Melbourne are now the primary drag on the national housing market’s performance.

This as they two capital cities comprise of approximately 60% of the overall national housing value.

Weak conditions in these two cities have substantial drag down effect on national housing market performance.