MNI 5 Things:Australia Sydney Dwelling Values Dn For 6th Month

By Sophia Rodrigues

     SYDNEY (MNI) - Following are the five key observations we made from

CoreLogic Hedonic Home Value Index for February published Thursday:

     --Sydney dwelling values fell for the sixth straight month and was down for

the first time since 2012 in annual terms. Over the three-month period to

February, Sydney was the worst performing capital city with prices falling 2.4%

q/q.

     --Overall home value index fell 0.1% m/m and for the fifth month in a row.

It was the first time since March 2016 that national home values fell for five

consecutive months.

     --There was a divergence between capital cities and regional markets.

Capital city prices fell 0.3% m/m in February but regional values rose 0.4%.

     --The 2.2% y/y rise in national home value was the slowest since August

2016. National home values are now 0.8% below their September 2017 peak.

     --Rental rates have been rising over the past three months even as dwelling

values fell. Hobart has recorded highest rent increases over the past year (up

10.2%).

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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