Demand for dwellings has seen an impressive lift in the past two months. Evidence of this can be seen through increases in the CoreLogic Home Value Index, higher auction clearance rates, and a rise in the number and value of housing finance commitments reported by the ABS. What will the impact of rising demand have…
A surge in overseas migrants and international students coupled with a significant shortfall in rental listings has led to the strongest annual rental increase on record for Australia’s capitals. CoreLogic’s national dwelling rental index recorded an increase of 0.8% for April, up 2.8% over the past three months and 10.1% higher for the year. The…
Following ten consecutive rate hikes, mortgage holders may be relieved to learn that the Reserve Bank (RBA) is slowly getting closer to taming inflation. The ABS inflation figures for March showed further signs of gradual cooling in the economy, including a pronounced slowdown in inflation for the construction of new dwellings. On a quarterly basis,…
The International Monetary Fund has released its latest publications on the global economic outlook, ranking Australia as the second-highest country for ‘housing market risk’ out of 27 countries, behind Canada. Some of the outcomes associated with this risk include a sharp housing market decline, which could have implications for economic growth and financial stability. So,…
Australian rent values have increased 24.1% between the start of an upswing in September 2020, to February 2023. On the surface, it would appear to be the perfect storm for property investors. The pace of monthly rent increases is accelerating, the monthly vacancy rate nationally slipped back to 1.0% in February, and the count of…
Women in Australia continue to trail men in the homeownership stakes amid crippling interest rate rises and falling home values. CoreLogic’s 2023 Women & Property report released ahead of International Women’s Day, found men were associated with ownership of 3.1% more of the housing stock analysed than women. Female-only ownership of dwellings was 26.8%, while…
The ‘fixed-rate cliff’ has emerged as one of the biggest potential risks to housing market values, and overall stability in 2023. This article explains what the cliff is, and five must-know pieces of information that put the cliff into context. What is the ‘fixed-rate cliff’? Mortgage rates fell dramatically during the pandemic. This was particularly…
New data from APRA this week shows a more conservative approach to housing lending in the December quarter of 2022. The Quarterly ADI statistics report reveals the portion of new loans originated on a debt-to-income ratio of six or more dropped to just 11.0% in the quarter, after peaking at 24.3% a year earlier. The…
Australia’s COVID-induced whirlwind love affair with the country’s hottest regional cities has run its course with values declining sharply as vendor discounts climb and days on market blow out. CoreLogic’s Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows 13 areas recorded an increase in house values over the year to January…
As Australia’s rental market continues to tighten to record levels, the pace of rental growth has slowed for the second consecutive month, possibly due to a seasonal lift in rental stock combined with affordability constraints. CoreLogic’s Quarterly Rental Review for Q4 2022 shows the Australian dwelling market saw a slowdown in the pace of rent…
