{"id":26628,"date":"2020-08-08T15:01:37","date_gmt":"2020-08-08T03:01:37","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=26628"},"modified":"2020-08-08T15:01:37","modified_gmt":"2020-08-08T03:01:37","slug":"orderly-home-price-fall-could-get-worse","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/orderly-home-price-fall-could-get-worse\/","title":{"rendered":"\u2018Orderly\u2019 home price fall could get worse"},"content":{"rendered":"

PHOTO: National property values have fallen for the third successive month. Source: Supplied<\/em><\/span><\/strong><\/p>\n

Australian home prices have fallen for the third successive month, due to the economic impact of the COVID-19 pandemic.<\/p>\n

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According to CoreLogic\u2019s home value index, housing prices nationally dropped by 0.6 per cent in July. This followed a 0.7 per cent drop in June and a 0.4 per cent drop in May.<\/p>\n

Overall values have slipped 0.7 per cent since the pandemic began to bite in the middle of March. For that month values were up 0.7 per cent, followed by an increase of 0.3 per cent in March.<\/p>\n

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\"Canberra<\/div>\n

Canberra was one of the places to enjoy home value growth in July. Picture: Getty Images Source: Supplied<\/span><\/strong><\/em><\/p>\n<\/div>\n

The figures indicate the resilience of the market, according to CoreLogic\u2019s head of research Tim Lawless.<\/p>\n

\u201cThe impact from COVID-19 on housing values has been orderly to-date, with CoreLogic\u2019s national index falling only 1.6 per cent since the recent high in April and housing turnover has recovered quickly after it\u2019s sharp fall in late March and April,\u201d he said.<\/p>\n

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