Matthew Hassan, Research Analyst at Westpac, explains that the Australian housing market correction accelerated in November as the CoreLogic home value index, covering the eight major capital cities, fell 0.9% in the month to be down 5.3%yr. Key Quotes “This is the weakest monthly reading in the price correction to date and the biggest monthly decline since 2008.” “Seasonality looks to have accentuated the November fall slightly. Markets are typically a touch softer late in the year as buyers dry up and sellers become more urgent to transact ahead of the Dec-Jan low season. This effect looks to be worth about 0.1ppt of the November decline. However, this does not change what is an unambiguously weak picture for the month.” “More generally, the spread of weakness across price tiers and geographies has continued to widen, albeit only marginally. Our estimates suggest 80% of all dwellings (by share of dwelling stock) have recorded price declines over the last 6mths with 62% recording annual price declines. Around 37% of properties are experiencing annual price declines of over 5%yr, with closer to 60% in NSW.” 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 Bitcoin price retreats below $4,000: What to expect FX Street 4 years Matthew Hassan, Research Analyst at Westpac, explains that the Australian housing market correction accelerated in November as the CoreLogic home value index, covering the eight major capital cities, fell 0.9% in the month to be down 5.3%yr. Key Quotes "This is the weakest monthly reading in the price correction to date and the biggest monthly decline since 2008." "Seasonality looks to have accentuated the November fall slightly. Markets are typically a touch softer late in the year as buyers dry up and sellers become more urgent to transact ahead of the Dec-Jan low season. This effect looks to be worth… 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.
