Australian home value changes for the June quarter
15 July 2020
Knowing Australian property value trends in these uncertain times is important
2020 has already been a year of great change in the property industry. In unprecedented conditions, home values are well worth keeping an eye on.
According to the CoreLogic Home Value Index, Australian home values saw a 0.4% decline in May. Currently a second consecutive month of decreases has been noted, with the national index slipping a further 0.7% in June.
The five largest capital cities each saw declines in home values, from a drop of 1.1% in Melbourne and Perth to 0.2% in Adelaide.
Looking at the quarterly data, Melbourne has seen further drops, being down 2.3% in this time period. Annually though, home values have seen a 10.2% increase.
Sydney home values saw a fall of 0.8% for the month and is down for the quarter by the same number. They have seen an annual increase of 13.3% to values though
Brisbane was down 0.4% in June and 0.23% for the quarter. It is however up annually by 4.4%.
Recent value falls represent an interrupted increase in value across Australia, reflected in high annual growth rates in the capitals.
The only cities where home values did not show increases on an annual basis are Perth and Darwin, but even across these cities, home values have seemingly recovered quickly from COVID-19 uncertainty.
What we’re doing
At Little Real Estate we’re committed to safety in these difficult times.
That’s why we now have virtual inspections to many of the properties on our website to allow for social distancing to be maintained. In person inspections were also made private which adds a more personalised experience as well as protecting from the potential spread of COVID-19.
Signage with the appropriate information and warnings has also become a staple of our sales personnel’s work.
These are just some of the measures we’ve taken at Little Real Estate to do our bit in stopping the spread of COVID-19.
If you’d like to contact us with any questions or enquiries, please don’t hesitate.