by Sanjeev Sah | Mar 21, 2023 | Market Updates

A lack of properties for sale has moderated price declines in many of Australia’s property markets, with CoreLogic’s national home value index falling in February by 0.14%, its smallest monthly decline since May 2022. 

Every capital city, except Hobart, saw housing values fall by less than 0.5% over the month, with Sydney posting a monthly gain of 0.3% – its first rise in more than a year (see image).  

CoreLogic’s research director Tim Lawless said there were fewer properties for sale in February, with the flow of new capital city listings tracking 11.9% below the previous five-year average. 

“This trend towards a below average flow of new listings has been evident since September last year, coinciding with a loss of momentum in the rate of value decline.”