A surge in the number of properties put to auction this weekend failed to dent clearance rates. Housing markets generally continuing to prove resilient despite ongoing media-fuelled negativity. Auction listings surged at the weekend compared to the previous Saturday but remain well below the totals recorded at the same time last year. Fewer choices for…
Articles by Andrew Wilson
Dr Andrew Wilson, of www.MyHousingMarket.com.au is Australia’s leading property economist.
This weekend’s auction clearance rates produced some encouraging early season results for sellers with signs that the market gloom and negativity widely predicted for the start of this year may have been oversold. Although rates remain lower than the same weekend last year, they are nonetheless well above the record lows recorded by both Melbourne…
The latest housing market scare campaign focuses on questionable analysis of household debt levels. Sharp declines in mortgage rates since 2011 have predictably activated housing markets with prices rising. Higher prices reflect higher mortgages with borrowers taking on more debt as prices rise and enabled by lower mortgage rates allowing purchasers to borrow more with…
Melbourne unit prices continue to rise debunking recent nonsense heralding the spectre of a local market apartment glut. Latest My Housing Market data reveals the median price for published Melbourne unit auctions surged by 8.5% over the March qtr compared to the same period last year. Melbourne recorded a median unit auction price of $635,000…
The latest data from My Housing Market reveals that the median price for published Sydney unit auctions increased by 3.2 percent over the March quarter compared to the same period last year. Sydney recorded a median auction price for units of $930,000 over the first three months of this year compared to a median of…
The Reserve Bank now admits that incomes growth in Australia may remain stubbornly stagnant for longer than expected despite recent robust jobs growth and lower unemployment rates. This really should be no surprise to an increasingly mystified Bank as this conundrum has been challenging other similar developed economies for some time. Full employment and competition…
The Australia Day long weekend marks the end of the lengthy summer holiday break period with businesses and schools now resuming at full pace as February suddenly arrives. Rising activity in recently dormant local housing markets will also emerge and gather momentum through February as buyers and sellers refocus on home choices and activate decisions…
Capital city housing markets have generally tracked backwards over the September quarter as the lower interest rate driver of recent years dissipates. Actions by policymakers to restrict residential investor activity through tighter lending conditions to that group have also acted to weaken prices growth over the last three months. Domain reports that the national median…
Home rental vacancy rates have generally tightened over the past month as the usual seasonal impacts recorded over August increased demand for tenancies. The national vacancy rates for houses, units and total homes all fell marginally over August and remain well below that rates recorded over August last year. All capitals reported declines in vacancy…
House prices in most capital cities have continued to rise into winter although the rate of growth has generally moderated as the recent driving force of last year’s interest rate cuts eases. National house price higher but growth rate sliding The national median house price increased by 1.7 percent over the June quarter to a…
