Each month we take a graphical deep dive into the Antipodean housing markets.
Housing price growth in Australia remained multi-speed in April but slower growth is starting to spread.
Dwelling prices continued to decline in Sydney and Melbourne. It’s not unusual for prices in the two major capitals to exhibit more volatility than elsewhere.
Overall, nationwide dwelling prices rose +0.3% m/m in April in Australia and just +0.2% m/m in the capital cities.
The slowing in dwelling price growth began before the RBA increased the cash rate in early February, but that is not unusual. Households’ appetite to buy housing has waned.
