With spring around the corner, buyers, sellers and property professionals are gearing up for a lift in sales and listing activity – but for some sellers in Melbourne, Hobart and Sydney, spring does not necessarily mean that demand will lift. Spring can be a popular time for both sellers and buyers alike as the chill…
Tenancy reform is making headlines this week after the NSW government announced a ban on ‘no grounds’ evictions. One fear associated with tipping the balance more in favour of tenants is that landlords could exit the market, and new investors may be dissuaded from purchasing property, thus reducing rental supply and pushing up rents. But…
Rental affordability continues to deteriorate in Australia, however, new data from CoreLogic shows renters are starting to favour larger dwellings. A slight slowdown in net overseas migration might also be a driving factor slowing demand for smaller, inner-city units. CoreLogic’s newly launched bedroom count metric – which analyses housing market performance segmented by the number…
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 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…
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…
