Housing Values Edge Lower In May, While Transaction Activity Partially Recovers From A Sharp Drop In April

According to the CoreLogic Home Value Index results for May, Australian dwelling values posted their first month-on-month decline since June last year.  The national index was down 0.4% over the month, with five of the eight capital city regions recording a fall in values.  

The reduction in values through May comes as transaction activity in the market shows more positive signs.  The CoreLogic estimate of sales activity bounced back by 18.5% in May after a (revised) drop of…