Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au
Migration data from the Australian Bureau of Statistics (ABS) highlighted that an increasing number of Australian residents were born overseas. As at June 2018, an estimated 17,650,130 residents of Australia were born in Australia. While this might seem like a high number, it shows that 29.4% of residents were born overseas. Based on data from…
Falling property values dragging household wealth lower backed up by data from the Australian Bureau of Statistics (ABS) showed that overall household wealth fell over the final two quarters of 2018. Total household assets were recorded at a value of $12.6 trillion at the end of 2018, while total household assets fell in value over…
With the housing market weakening over the past few years, most capital cities have experienced dwelling value falls with a more significant correction experienced in Sydney, Melbourne, Perth and Darwin. Although the past few decades have been characterised by increasing property values, that doesn’t mean there haven’t been periods when property values have reversed; in…
An increase in dwelling values over 2018 resulted in a reduction in sales at lower price points with million dollar plus property transactions having become much more commonplace. Over the 2018 calendar year, the share of sales across the six price points highlighted nationally were: 6.1% under $200,000, 24.8% between $200,000 and $400,000, 28.0% between…
Fewer capital city homes taken to auction week-on-week and year-on-year. There were 2,204 capital city homes taken to auction this week, returning a preliminary weighted average clearance rate of 55.0 per cent. This week’s volumes are slightly lower than last week’s 2,293 auctions held, which was the busiest week so far this year. The higher…
The onset of weaker property market conditions is starting to show with listing numbers rising to their highest levels since 2012. Citing increased competition amongst vendors for a smaller pool of buyers, motivated vendors are offering up increasingly larger discounts on their original asking prices in order to sell. Nationally, around 75% of properties sold…
A review of Australia’s property markets over the past twenty years showed that while the housing market has experienced weaker conditions over the past year, it is a different story over the longer term with most cities seeing substantial gains. Top performer – the Melbourne property market recorded the greatest value gains of 274.4% over the…
As dwelling values fall, suburbs once boasting a million dollar median are now being affected, particularly premium housing stock where the number of suburbs with a median value at, or in excess of $1 million has fallen over the past year. There were 649 suburbs across Australia that had a median house or unit value…
Capital city auction volumes rise over the week, although remain lower than one year ago. Auction activity is continuing to ramp up after the seasonal slowdown, with 929 capital city homes taken to auction this week, increasing on last week when 536 auctions were held as of final figures. The higher week on week activity…
Subdued start to 2019 with 526 capital city homes taken to auction coming out of the seasonal slowdown. The first week of auction reporting for 2019 saw 526 capital city homes taken to auction, this is down almost 34 per cent on the same week last year when 790 auctions were held. The preliminary auction…
