Peter O’Malley from the real estate agency Harris Partners joins Luke Grant to look at and analyse the CoreLogic numbers released yesterday.

We’re told housing prices slowed sharply through February as Sydney recorded its first monthly fall since 2020. The CoreLogic monthly index showed prices rose 0.6 percent nationally last month in what was the smallest gain since the pandemic boom began in October 2020 and close to half the January result (up 1.1 per cent). The result has continued the softening trend in growth rates that have been occurring since April 2021.

Every capital city and broad state regional areas are now recording a slowing in trend in value growth, although at an increasingly divergent rate. The weakest results of the month were achieved in the country’s two largest cities, which also have the most significant weighting in the national headline figure.

Sydney recorded a fall of 0.1 per cent, while Melbourne held steady (no change) through February.

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