This is an index across Australia's major cities
- Down 0.2% m/m in May
- Down from an 8th straight month
- Down 0.4% y/y (first annual decline since 2012)
CoreLogic Head of Research Tim Lawless
- "The negative headline growth rate is a symptom of weakening housing conditions across the capital cities, led by Melbourne and Sydney, where previously capital gains were nation-leading,"
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Prices sliding on (in a nutshell)
- regulators tightening rules
- lenders raising borrowing standards
- less buying from offshore (i.e. China)
more to come (not on the post, but in this market :-D )
