November - National Housing Market

The national housing market has continued to lose steam last month as dwelling values decreased by 0.5%.

This took the market 3.5% below the recent peak. Dwelling values haven’t fallen this much over a single year since February 2012.

Tighter credit availability is acting as a drag on housing demand and impacting inversely on the performance of the country.

The weakest conditions continue to show in Melbourne and Sydney where investment buyers have been the most concentrated. These capital cities are also where supply conditions have been the highest and housing affordability is most stretched.

Brisbane, Adelaide, Canberra and Hobart show to present positive conditions, however this growth has eased since a year ago.