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. 

Monthly highlights:

• 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

View Report here: https://drive.google.com/file/d/16FXukhwCxv_nWAmuySZTgK1R9eSyXrG6/view?usp=sharing

Source: https://www.corelogic.com.au/