Housing affordability is becoming an increasingly pressing concern through 2021, as dwelling values continue to rise, and first home buyer activity has started to decline. Through April, national dwelling values increased 1.8%, which is six times the average monthly movement in property prices for the past decade. Adjusting the median dwelling value in Australia for…
The volume of new dwellings advertised for sale is finally starting to lift relative to previous years. In the four weeks to April 25th, there were 27,055 new listings advertised across Australian capital cities. A ‘new listing’ occurs when a dwelling is first advertised within the period of measurement (unless it has already previously been…
One of the most prominent trends in Australian housing markets over the past 12 months has been the deterioration of rents in inner city apartment markets across Sydney and Melbourne. At the greater capital city level, rent values have fallen -4.9% across Sydney units since March last year, while Melbourne unit rents have fallen -8.2%….
The combined capital city clearance rate was recorded at 80.0 per cent over the March 2021 quarter, increasing from 69.4 per cent over the December quarter and 62.5 per cent over the March 2020 quarter. Looking at auction volumes, there were 19,004 homes taken to auction across the combined capital cities over the three months…
Low mortgage rates, a swift economic recovery, which has spurred consumer sentiment, and low listing volumes have catapulted national housing values to new record highs. At the end of March, the CoreLogic national home value index increased a further 2.8%, placing values 5.6% above the previous market peak in October 2017. The combined value of…
CoreLogic has released its quarterly ‘Pain and Gain’ report for the December quarter, which analyses the proportion of dwelling resales that made a nominal gain (or loss) relative to the previous purchase price. The latest analysis was based on 98,000 sales through the December quarter, where CoreLogic observed the property had previously sold. Based on…
New data suggests changes to mortgage lending rules in the near future are unlikely, despite rapidly rising home values. Recent data from the Australian Prudential Regulation Authority (APRA) suggests that while the proportion of loan originations that could be ‘higher risk’ showed a slight increase through the December quarter, the regulator saw no evidence of…
CoreLogic’s inaugural Women and Property: State of Play report released on International Women’s Day boosts evidence of the relationship between the gender pay gap and the gender wealth gap. It suggests addressing gender income equality could support closing the wealth gap as it relates to real estate over time. The report analysed a 2021 snapshot…
Melbourne and Sydney unit rents stall while regional markets soar. Across the individual property types nationally, houses substantially outperformed units over the year, with house rents rising by 3.9% annually against a 3% reduction in unit rents. The decline in unit rents was largely concentrated around the inner city markets of Melbourne and Sydney, contributing…
The below maps illustrate the impact of COVID-19 induced restrictions on the inner city rental market across our two largest capital cities. The geographical view also highlights the flow-on effect to the outer coastal regions where rental growth has been quite substantial in comparison. Rolling quarterly change in rental values
