CoreLogic data points to a three-speed housing market heading into spring

National dwelling values edged higher last month, but the headline number obscures a market splitting three ways, the latest CoreLogic figures show.

Perth and Brisbane continued to lead on tight supply and population growth, while Sydney values flattened and Melbourne recorded a small decline.

Higher-for-longer rates are weighing on borrowing capacity even as listings stay below the five-year average in the strongest markets.

Auction clearance rates softened modestly, an early sign buyer urgency may be cooling as spring stock arrives.