Massive gap opens up between regional and capital city property

CoreLogic has released its full dwelling value results for February, which shows that dwelling values nationally grew by 0.6% over the month, by 2.7% over the quarter, and by 20.6% year-on-year:

However, there was a massive divergence across the markets, with the combined capitals growing only 0.3% over the month, 1.8% quarter-on-quarter, and 19.2% year-on-year.

By contrast, the combined regions continued to grow strongly, growing by 1.6% in February, by 5.7% quarter-on-quarter, and by 25.5% year-on-year.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.