The RBA held the cash rate steady at 4.35% for its last meeting of the year. This was broadly expected as several data flows came in weaker through November. Retail trade fell -0.2% month-on-month, and although still low, the unemployment rate ticked up 20 basis points to 3.7% in October. The monthly CPI measure also…
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
Australia’s housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months. CoreLogic’s interactive Mapping the Market tool, updated with data to the end of October 2023, found that 83.1% of house markets and 80.6% of unit markets saw…
Across the combined capital city markets of Australia, rent values have risen another 10% in the 12 months to September. Limited availability of stock, a strong net overseas migration position and a normalisation between city and regional population movements continue to place upward pressure on capital city rent markets. For those that work or study…
Overseas migration is frequently being called out as one of the primary factors influencing the housing market. In the face of high-interest rates, low consumer sentiment and stretched housing affordability, values and rents continue to rise and vacancy rates plummet as net overseas migration has hit record highs. National home values have increased 7.2% in…
Who’s winning and who’s losing when they sell their properties? Well..despite profitability in Australian home resales increasing for the first time in a year, the portion of loss-making short-term resales increased to 9.7%, from just 2.7% a year ago. The CoreLogic Pain & Gain report for the June quarter shows the rate of profit-making sales…
Short-term resales have emerged as a major housing market trend in 2023. New CoreLogic analysis shows that in winter, 16% of listings added to the market for sale had been owned for less than three years. This marks a series high going back to 2008, where the 15-year average proportion is less than half that…
The combined value of Australian housing rebounded to $10 trillion at the end of August, the first time the total estimated value hit double digits since June 2022. The increase resulted from a combination of higher values, with the median home value in Australia reaching $732,886 at the end of the month, and the stock…
Rent values rose for the 35th consecutive month nationally in July. However, monthly rent growth has eased over the past four months. In regional Australia, rent value growth has been slowing since April last year, and rents are close to flattening out (albeit at high levels). Slowing rent growth is expected to be one of…
Despite regional housing values rising for the past five months, a new analysis of year-on-year performance shows many markets are still reeling from high interest rates and a shift in migration patterns back to pre-COVID levels. CoreLogic’s quarterly Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows 18 areas recorded an annual…
I’m sure you’ve heard of the “fixed rate cliff” – a term used to describe the expiry of a significantly larger than average number of fixed-term loan facilities, which were secured between mid-2020 and mid-2022. CoreLogic published a note outlining what we knew about the so-called ‘fixed-rate cliff’ in February this year. It was a forward…