Lower home values in Melbourne and Sydney continue to weigh down the national housing market while the remaining capitals record a lift through September

September marked a striking turn in housing market sentiment; consumer confidence increased, new listings rose, and six of the eight capital cities recorded a rise in home values over the month. However, falling values in Melbourne and Sydney, which make up approximately 40% of Australian’s housing stock by number and 55% by value, pushed the national reading into a fifth straight month of decline.

CoreLogic’s September home value index results showed a 0.1% fall in dwelling…