Babel does not transpile code when using Webpack's resolve modules

Question

or so it seems,

The code transpiles if I use regular relative paths, but when I use resolve.modules I get this error message:

You may need an appropriate loader to handle this file type.
| export default class Test {
|
|     name = 'Joe';
|
|     constructor() {
      ...

webpack.config:

...
resolve: {
    modules: [
        path.resolve(__dirname,'resources/assets/app'),
        path.resolve('./node_modules')
    ],
},

module: {
...

app/core/Test.js:

export default class Test {

    name = 'Joe';

    constructor() {
        console.log('construct a Test');
    }
}

Usage:

import Test from 'core/Test';

Does anyone know if this is a bug or am I missing something?

I get the same error when using resolve.alias

Have also tried using babel-plugin-transform-class-properties

.babelrc

{
  "presets": [
    "es2015",
    "stage-0",
    "react"
  ],
  "plugins": [
    "babel-plugin-transform-class-properties",
    "react-hot-loader/babel",
    "transform-async-to-generator",
    "transform-decorators-legacy"
  ]
}