Housing Correction & Dwelling Values in Capital Cities

National dwelling values were down for the eleventh consecutive month suggesting spring selling conditions may deliver a challenge amidst rising advertised stock levels, tight credit and indications that mortgage rates are tracking higher.

Australia’s housing market correction continued through August with the CoreLogic National Home Value Index tracking 0.3% lower over the month. Since peaking in September last year, dwelling values have been consistently tracking lower, down a…