Melbourne home values up for first time since 2017: CoreLogic
01/07/2019
Melbourne home values have risen for the first time since November 2017, indicating the downturn that’s plagued the market has bottomed out.
Experts are advising house hunters to buy now if they can, or potentially risk paying more in spring.
CoreLogic’s latest Hedonic Home Value Index shows house and unit values increased 0.2 percent in June, to a $619,383 median.
Melbourne home values are still 9.2 percent lower than a year ago, but that annual decline has eased from 9.9 percent at the end of May.
Values are also down 0.6 percent for the quarter.
Victoria’s capital had experienced 18 straight months of decline by the end of May, with January’s 1.6 percent drop the largest of them.
The falls have eased every month since then, with May recording a slight 0.3 percent dip, and have now snuck into the positives in June.
