New data from the ABS and APRA have provided updated insights into the housing lending space, which is highly correlated with trends in home prices and sales volumes. Lending for the purchase of property hit record highs through April 2021. However, the concentration of mortgages regarded as ‘higher risk’ remained around average levels through the…
What will trigger the next property downswing? With housing market values at record highs, and strong demand driving above-average levels of buyer activity, CoreLogic has found many are asking “what will trigger the next housing market downturn, and when.” Before examining current headwinds for the current housing market upswing, it is insightful to examine what…
Over the start of 2021, ABS housing finance data has corroborated the momentum in housing market conditions. Since the official cash rate target was lowered to 0.1% in November, the average new lending rate for owner-occupier mortgages has fallen 15 basis points and 12 basis points for an average property investment loan. This has created…
Here’s a short update on the Melbourne housing market so far this year. The Melbourne economy has undoubtedly been the most impacted by COVID-19 in Australia, both because of the second major outbreak in case numbers through the September quarter, and because international migration has been a key component of population growth across the state,…
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…
