National home values increased 0.5% in the month of August, the 19th consecutive month of increase in home values. However, the pace of growth is showing clear signs of slowing.
National home values increased 0.5% in the month of August, representing the 19th consecutive month of increase in home values and slightly above the downwardly revised 0.3% increase seen through July.
However, the pace of growth is showing clear signs of slowing with the quarterly increase in national home values (1.3%) now less than half the rate of growth in the same three month period of 2023 (2.7%).
At a high level, there is still more demand for housing than available supply, but the flow of advertised supply and demand are becoming increasingly balanced. Supply levels vary markedly from region to region, with total listings in Melbourne about -25% higher than the previous five-year average, while total listings in Perth and Adelaide are down on the five-year average by more than -40%.
Ref: Corelogic