I posted a few moments ago on a view the RBA 'continues to underestimate the threat from the weaker housing market'
Meanwhile, in January its more of the same, capital city index down 1.2% m/m
CoreLogic senior analyst Tim Lawless:
- Although the more affordable valuation brackets across Sydney and Melbourne have seen some resilience to falls early in the decline phase, it's clear that all segments of the market in Australia's two largest cities are losing value
- Tight credit conditions, weakening consumer sentiment, less domestic and foreign investment and higher levels of housing supply are the primary drivers of the worsening conditions."
