Variation across the capitals
In June, we saw home values fall across five of the largest capital cities. The falls ranged from 1.1% in Melbourne and Perth, to 0.2% in Adelaide.
Hobart, Canberra and Darwin, in contrast, all experienced modest price increases. CoreLogic head of research Tim Lawless said the downward pressure on home values had been mild to date, due to a variety of factors. He said low advertised stock levels and significant government stimulus had helped buoy the property market in recent months.
Some experts have suggested the end of bank mortgage repayment holidays may result in larger price drops this Spring and a potential increase in distressed listings. For property hunters, there may be plenty of bargains to be found.