The Relative Resilience of Property Values

So far, the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate. But the value of dwellings has been relatively resilient. 

It is still likely that property values will fall amid the downturn. But the decline in momentum across property values has been mild relative to what has happened in market activity.

The chart below shows the rolling 28-day change in the daily CoreLogic dwelling value index for the combined capital cities…