Articles by Eliza Owen

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


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COVID-19 has brought about downside risks for the economy and housing market. A 0.3% decline in March GDP confirmed a technical recession is underway in Australia, total wages paid fell 5.4%between mid-March and early May, and Australian dwelling market values saw the first month-on-month decline since June 2019. But one surprising sign of stabilising emerged…

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The start of the Perth dwelling market recovery comes at an unfortunate time. In early 2020, the Perth dwelling market had four consecutive months of dwelling value increases, which is the longest stretch of capital growth since 2014. The Perth dwelling market has a long road to recovery. By the end of April, the house…

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On the 25th of March, real estate agents were temporarily banned from hosting open property inspections and on-site auctions. The ban resulted in changes to the auction process, which went from on-site to online. These changes are reflected in some startling data points in the auction results. Below is a summary of typical auction outcomes…

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COVID-19 is having varied impacts on residential property, but arguably the biggest impact could be in the rental space. Prior to COVID-19, the Australian rental market was already weak. Now, new challenges are here. As Australian borders remain closed to tourists, and government policies restrict short-term rental arrangements, Airbnb rentals are converting to long-term rental…

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Rent values increased by 0.3% nationally over the month of March. Despite rental value increases, this has decelerated from a recent peak growth rate of 0.5% in January 2020. Prior to this March slowdown, the CoreLogic hedonic rental index had seen an upswing in values since September 2019. This occurred against slight moderations in new…

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So far, the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate. But the value of dwellings has been relatively resilient. It is still likely that property values will fall amid the downturn. But the decline in momentum across property values has been relatively mild relative to…

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The economic slowdown resultant from COVID-19 has changed working conditions for many. But quantifying the impact on labour markets at this stage is difficult. The latest unemployment data from the Australian Bureau of Statistics does not tell us much about how the labour market has changed. That is because labour market data is not real…

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