Australian Housing Values Continue To Drift Lower, Falling 0.6% In July As The COVID Driven Housing Downturn Moves Through A Third Month Of Orderly Decline.

Australian housing values racked up a third consecutive month of declines in July, with CoreLogic’s home value index dropping 0.6% over the month, a slight improvement from June when the national series was down 0.7%. 

Across the capital cities, only Canberra (+0.6%) and Adelaide (+0.1%) posted a rise in dwelling values over the month, while Melbourne (-1.2%) and Sydney (-0.9%) led the decline, recording the largest month-on-month falls in July.  

Regional markets are…