Momentum Of Downturn Increases

CoreLogic’s Home Value Index shows Australia’s housing downturn increased its momentum in June, driven by sharper falls in Sydney and Melbourne as well as weakening conditions elsewhere. It was the second consecutive month of value declines, down -0.6%, to take overall values -0.2% lower over the June quarter. Continued falls in Sydney dwelling values (-1.6% month and -2.8% quarter)...