CoreLogic’s dwelling price results are in for November, with another 0.98% decrease in values recorded over the month at the 5-city level:
It was the 14th consecutive monthly decline in home values, with values down a cumulative 5.8% over that period at the 5-city level:
Quarterly values also dived another 2.1%, with the trend worsening:
Over the October quarter, values were down heavily across Sydney, Melbourne and Perth:
In the year to November, home values fell by 5.15% at the 5-city level, driven by Sydney (-7.2%) and Melbourne (-5.6%):
The next chart, which tracks trend annual price growth, shows a weakening trend also driven by Sydney, Melbourne and Perth:
Similarly, the below chart tracks price growth on a quarterly basis, with the same three markets collapsing:
Finally, Sydney is following Perth into double-digit peak-to-trough falls, with Melbourne following:
The crash looks to be on, given the sharp deterioration.