Focusing on the Sydney market, dwelling values were down by 0.7% over the month.
CoreLogic has released their newest housing market update for May 2019.
Although the month to month falls remain substantial, this was the smallest decline in six months, continuing a trend that has seen the rate of decline improving since the beginning of 2019.
Since peaking, Sydney values have reduced by almost 15%, providing a substantial improvement to housing affordability and pushing rental yields higher.
Listing numbers across the Sydney market remain high, providing buyers with a wide range of choice and strong negotiation position.
Vendors, on the other hand, continue to face a challenging selling environment which has led to a substantial reduction in new listings being added to the market.