The onset of COVID-19 may be creating a two-speed rental market, with inner-city rents declining faster than those in the outer suburbs. CoreLogic data confirms that there is a positive correlation between changes in rent values and distance to the CBD. This means that the closer a region is to the CBD, the more likely…
Articles by Eliza Owen
Eliza is head Of Residential Research Australia for Corelogic and a respected property market commentator. Eliza holds a first class honours degree in economics from the University of Sydney
Plenty of data suggests certain rental markets have deteriorated amid the COVID-19 pandemic. CoreLogic data showed a 0.8% decline in national rent values from the end of March to the end of August, with more acute falls in the unit markets of Sydney and Melbourne, where rent values have fallen 4.2% and 4.4% respectively over…
Recent forecasts from Treasury indicate annual population growth across Australia is set to slow from around 1.4% pre-COVID, to 0.6% through the 2020/21 financial year. In raw numbers, that implies Australia’s annual population growth will reduce from around 350,000in 2019 to 154,000over the year ending June 2021 – a reduction of 56%relative to 2019levels. If…
A key takeaway from CoreLogic data amid the pandemic, is that transaction activity slows significantly in response to COVID-19 restrictions. The resulting loss of employment, lower consumer sentiment and border closures have had a much larger impact on the number of properties marketed and sold, than property prices themselves. This was seen from the Stage…
Capital city dwelling values have been affected differently across Australia in the wake of the pandemic. As well as anecdotes of demand in regional lifestyle areas, the ACT dwelling market has been the clear ‘winner’ of the capital cities, increasing 1.3% in value between the end of March and the end of July. This came…
COVID-19 continues to show an acute impact on inner city rental markets, the latest CoreLogic data on rental listings has revealed. In the 28 days to August 9, total rent listings on market across Australia had eased on the previous month, falling 10.9% nationally. While most regions are now seeing rental markets gradually tightening, there…
Not every Australian housing market has performed the same way since the onset of the COVID-19 pandemic. The latest CoreLogic Home Value Index results revealed that since March, Melbourne property values fell 3.5%. Meanwhile, the ACT dwelling market reached a record high. From June to July, the rate of decline eased across Perth from -1.1%…
On the 27th of July, the New South Wales government announced eligible first home buyers could access stamp duty exemptions on new home purchases worth up to $800,000. New home builds will also see stamp duty discounts available for purchases between $800,000 and $1 million, where the discount reduces with a higher purchasing price. The…
National rents fall by half a percent over the June quarter as COVID-19 pivots the trajectory of the rental market. The decline in rent values over the quarter came at a time when the rental market was already relatively weak. Annualised growth in national rent values was just 1.1% in the five years to June…
Who won and who lost in property? That’s what Corelogic’s Pain and Gain report tracks. The latest edition analyses approximately 72,500 sales that took place over the first quarter of 2020 and showed that nationally, the portion of profit-making sales in the March quarter fell to 87.7% from 88.7% in the December quarter. Read on…