Australia is slowly moving through an enormous (though temporary) spike in overseas migration. The ABS reports Australia’s population increased by 2.5%, or 660,000, in the year to September 2023. Its latest regional migration data reveals the areas with the highest migration levels through the 2022-23 financial year (FY23). This has been driven by a combination…
The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart . Summary of median weekly rent and value change – data as of April 2024 Region Median weekly rent Monthly change in…
Australia’s housing market has become harder for first-home buyers to access over time. The past two decades saw an increase of around 150% in the CoreLogic Home Value Index nationally, compared with an 82% rise in the ABS Wage Price Index. As a result, the wealth of property owners looking to buy their next home…
Who owns more property – men or women? Well, according to CoreLogic’s 2024 Women & Property report, which surveyed home ownership status and motivations, barriers and attitudes towards dwelling ownership among women and men in Australia 68.2% of women surveyed own at least one property – including owner-occupied and investment properties – slightly higher than…
Certain economic indicators are usually telling of where the housing market is going. But through the pandemic and beyond, some data relationships fell apart, with the housing market recovery in 2023 defying high-interest rates and low consumer sentiment. What happened to these historic relationships in data, and will they be salvaged? Interest rates and home…
The current state of the Australian housing market is often characterised as undersupplied. Supply is at the centre of government policy approaches to housing, and the latest reporting from Housing Australia estimates a supply shortfall of over 100,000 dwellings by the end of 2028. Despite a purported lack of housing, some dwelling markets are declining…
CPI results for the December quarter showed inflation has fallen once again, from 5.4% in September to 4.1%. This marks the fourth consecutive quarter where inflation has declined on an annual basis, and the December result is below the 4.5% forecast made by the RBA last November. Falling inflation reflects softer demand in the economy,…
CoreLogic’s national median rent value ticked up to $601 per week last month, equating to the median annual rent of $31,252 a year. CoreLogic median rent is based on a current estimate of rent income, describing what the median dwelling in Australia would rent for if you put it on the market at any given…
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…
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…
