Rapid growth in Australian housing values and rents over the past year has contributed to greater affordability pressures for households. ABS lending data shows first home buyer finance commitments have fallen -22.8% since January 2021, and rising rent prices have created housing stress for tenants, particularly in parts of regional Australia. Perhaps a more bizarre…
Just five months after reaching $8 trillion in value, CoreLogic has announced its estimate of the total value of residential real estate in Australia has surpassed a new record of $9.1 trillion. The surge in value follows the recent broad-based capital gains witnessed across the country, with most housing markets now beyond their peak. The…
The past few weeks have seen mounting speculation around what changes could be coming for the housing lending space. The Council of Financial Regulators, which includes the banking regulator APRA, flagged the need for sound lending standards to be maintained, with signs of “some increased risk-taking” appearing in mortgage lending. Examples of more risky debt…
Australian homeowners have cashed in on the highest level of profitability in a decade as an overwhelming majority of vendors recorded a profit according to Corelogic’s Pain & Gain Report. More than nine out of 10 home sellers sold for a gain during the June quarter, a 9 per cent increase compared to the first…
Tight listings, record-low mortgage rates, and Australia’s extraordinary growth in housing values have led to continued strong resale gains for vendors, particularly in the country’s regional and tree change markets. CoreLogic’s Pain & Gain Report shows 91.5% of resales during the June quarter recorded a nominal profit-making gain from the previous purchase price, the highest level…
The past 16 months have seen remarkable levels of adaption in the real estate sector, government stimulus and economic decline and recovery. Amid renewed and extended lockdowns, some indicators suggest the housing market has been even more resilient to lockdowns in 2021 than through 2020. But there is some suggestion not all pockets of the…
Less than two weeks out from the spring selling season of 2021, lockdown conditions are in place across the ACT, Greater Melbourne, and NSW. More recently, major centres across the Northern Territory have been plunged into a snap lockdown. In the decade prior to COVID-19, sales and listings volumes would typically rise from September to…
Since the onset of COVID-19, a prominent trend across the Australian dwelling market has been the high demand for detached houses. This is reflected in price changes of houses and units since March last year, as stage 2 restrictions rolled out across the nation. In the past 16 months, capital city house values rose 14.2%….
CoreLogic’s Auction Market Review for the June quarter of 2021 shows 31,605 homes were taken to auction across the combined capital cities in the three months to June 2021. These figures make it the busiest quarter for auctions since the December 2017 quarter when 32,408 capital city auctions were held. In comparison, the March 2021…
The CoreLogic Quarterly Rental Review for June showed a strong uplift of 6.6% in rent values over the year. This follows a decade of relatively subdued annual rent growth, averaging 1.8% since June 2011. The annual growth rate of 6.6% marked the strongest annual uplift in over a decade. CoreLogic data across 88 SA4 markets₁…
