It was four years ago when the World Health Organisation declared COVID-19 a worldwide pandemic. Since that time economic trends, including housing metrics, have been on a roller coaster ride. Although lockdowns and the uncertainty of vaccination programs are well behind us, the legacy of COVID will be with us for a long time yet….
Articles by Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au
The decision to keep the cash rate on hold at 4.35% came as no surprise, with most economists agreeing the next move on rates will be down. Although the timing of an RBA rate cut remains uncertain and dependent on inflation outcomes. A boost to confidence Nonetheless, the hold decision, alongside lower inflation and a…
Underlying land value, scarcity factor and desire for more space through the pandemic have led to a substantially larger rise in house values relative to unit values over the past four years. At the onset of the pandemic in March 2020, the house premium, or the difference between median capital city house and unit values,…
Just over one-third (35%) of Australia’s regional coastal markets recorded housing values at record highs at the end of last year despite multiple rates rises, cost of living pressures, and market uncertainty, CoreLogic figures reveal. A thorough examination of Australia’s regional coastal suburbs to the end of 2023, unveiled a diverse spectrum of property performances,…
The decision to keep the cash rate on hold at 4.35% was almost universally expected, given the low inflation figures released for the December quarter, which came in roughly 45 basis points under the RBA’s forecast. Other factors supporting a hold decision include weak retail trade outcomes, a gradual loosening in labour market conditions and…
Australian dwelling values have regained the losses from the recent downturn and surpassed their previous peak to reach a new record high, CoreLogic’s national daily Home Value Index shows. After reaching a peak in April 2022, national home values fell -7.5%, finding a floor on 29 January 2023. Since bottoming out, the national HVI has…
The RBA kept the cash rate on hold at 4.1% for the fourth successive month in October, citing ‘a more sustainable balance between supply and demand in the economy’, but also ongoing concerns about inflationary pressures and a heightened level of uncertainty surrounding the economic outlook. The recent uptick in inflation, from 4.9% annually in…
The flow of new listings added to the Australian housing market has been rising since mid-June, in contrast to the usual seasonal trend where new vendor activity would be trending lower through the colder months. Historically, based on the pre-COVID decade average, new listings added to the national housing market drop by 5.2% between autumn…
Melbourne house values have increased a mere 1.6% between the onset of COVID in March 2020 and the end of May 2023. Every other capital city has seen double-digit growth, ranging from a 16.5% gain in Sydney to a 45.2% surge in Adelaide house values during that period. Melbourne homeowners might be disappointed at the…
Not that long ago, Australia was in the midst of the fastest drop in housing values on record, as rapidly increasing interest rates caused capital city values to plunge more than 9% in the space of about 10 months. That’s all changed since hitting a low in February, with three consecutive months of positive growth…