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Australian dwelling prices: closing in on previous peaks
The CoreLogic home value index, covering the eight major capital cities, rose 0.9% in September, in line with similar gains in July and August but a slight step-down from the stronger gains in the June quarter. Annual growth rose to 5.1%yr. Note that CoreLogic has made significant changes to its indexes this month, with a move to time-varied weights that mean it will pick turning points earlier and an approach that will see revisions month to month. The new series has seen a substantial net upward revision to historical estimates, the cumulative effect adding 7ppts to price growth nationally since 2020. More ... (full story)