Matthew Hassan, Senior Economist at Westpac, notes that Australia’s housing markets continue to correct as the CoreLogic home value index, covering the eight major capital cities, dipped 0.2% in May marking the eighth successive monthly decline. Key Quotes “Prices nationally are down 1.1%yr and down 1.9% from their peak in Sep last year.” “The most disaggregated price data suggest over 40% of properties nationally are now experiencing annual price declines – up from a third last month and just 10% a year ago. The incidence of declines is still narrower than that seen during the bigger price corrections in 2011-12, 2008-09, the mid 2000s and the mid-90s.” “For the May month, unit prices showed a slightly sharper fall than houses (-0.3% vs -0.2%) although annual growth remains positive (+0.9%yr) compared to negative for houses (-1.7%yr).” “Overall, the May update again extends and deepens the price correction. With latest auction market data showing a further weakening in Sydney and Melbourne through June and some tightening in lending criteria likely coming through as well, any stabilisation still looks to be a long way off.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next India: Cyclical recovery strengthens – Nomura FX Street 5 years Matthew Hassan, Senior Economist at Westpac, notes that Australia's housing markets continue to correct as the CoreLogic home value index, covering the eight major capital cities, dipped 0.2% in May marking the eighth successive monthly decline. Key Quotes "Prices nationally are down 1.1%yr and down 1.9% from their peak in Sep last year." "The most disaggregated price data suggest over 40% of properties nationally are now experiencing annual price declines - up from a third last month and just 10% a year ago. The incidence of declines is still narrower than that seen during the bigger price corrections in 2011-12,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
