CoreLogic market update report - March 2020
This is a special edition of the chart pack, which includes additional insights on the property market as it relates to the spread of COVID-19 in Australia.
Nationally, Australian dwelling value growth was still positive over March, but the momentum of growth has started to slow
Changes in the daily index suggest that dwelling value growth was stabilising towards the end of March, but there may be further downwards pressure on values in the coming months
Transaction volumes are more susceptible to declines at the moment, and are expected to fall in line with a drop in consumer confidence
In the final week of March, the auction clearance rate across the combined capital city markets fell to 37.3%, off the back of a historically high withdrawal rate (50.2%)
Before the current slowdown, almost all capital city markets were in an upswing phase of the property cycle