National housing markets are cooling rapidly as lockdown restrictions and wavering confidence sideline buyers and sellers in most capitals. My Housing Market reports that the number of homes newly listed for sale nationally has crashed over the past week as concerns over a protracted shutdown have potential sellers increasingly taking a wait-and-see approach to the…
Articles by Dr. Andrew Wilson
Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
Investors continue to re-engage our housing markets after a lengthy period of underperformance and are driving overall residential lending to new record heights. Latest ABS data reveals that the value of total home lending seasonally adjusted increased by 4.9% over May to yet another record high of $37.89 billion. The May increase was the highest…
Do you think Australia’s share market is booming. Well think again! Sure Australias sharemarket has finished the 2020-21 financial year on a high, with the All Ords reporting a record year of growth — up by 25.6% This strong sharemarket recovery over the past year reflects the resilience of the Australian economy that has been…
Capital city rental markets continued to tighten over June with vacancy rates remaining at generally low levels — and still falling. Low vacancy rates are predictably translating into higher rents with current trends indicating the little prospect of easing over the foreseeable future. House rents have increased sharply over the past year in Brisbane, Adelaide,…
Capital city auction markets have continued their recent record monthly performances, reporting more unprecedented results for clearance rates, auction sales, listings and prices for June. 9,551 homes were listed for weekend auctions over June at an average of 2,388 per weekend – a record offering for June. The average for June was just below the…
Capital city housing markets continued to record strong prices growth over June, although the rate of increases has moderated from the extraordinary levels reported over May. Sydney was yet again the top performer with house prices rising by 9.1% over the June quarter for an increase of 17.8% over the first half of 2021 –…
Building approvals for houses have surged over the past year fuelled by the Federal Government’s HomeBuilder initiative. 136,107 private sector approvals were reported by the ABS over the year ending April 2021 – an increase of 31.1% on the previous year. Total residential new building approvals – inclusive of houses, units, and townhouses, were however…
Well…whatever happened to the “Cliff”? Despite relentless predictions of higher unemployment rates to follow the end of Jobkeeper in March, Australia’s jobless rate continues to defy the “experts”. The ABS reports that the national unemployment rate seasonally adjusted plunged to just 5.1% over May and is now lower than the pre-covid rate of 5.2%. Employment…
The value of Australian homes is soaring as record home buying activity pushes prices higher in a once-in-a-generation housing market boom. The ABS released their latest stats today for the March quarter of this year… yes I know that’s 3 months ago. They report that the total value of Australian housing over the March quarter…
The number of newly listed homes for sale has predictably fallen over recent weeks as seller interest declines with the onset of the typically quieter winter selling season. The National Newly Listed Homes Index, exclusive to My Housing Market, that tracks newly advertised listings on a daily basis, reveals trend growth has declined by 6.0%…