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…
CoreLogic analysis suggests servicing a mortgage is now cheaper than paying rent on 36.2% of Australian properties, which is higher than the pre-COVID proportion of 33.9% reported in February last year. The analysis was undertaken at the individual property level, using a set of mortgage assumptions and valuation estimates, to approximate mortgage repayments. These were…
While rental growth is slowing, we’ve still experienced the highest rental growth in over a decade. Growth in rental rates eased over the second quarter of 2021, with the national rental index rising by 2.1% over the 3 months to June compared to a 3.2% rise over the March quarter. While rental growth has slowed…
As the delta variant of COVID-19 has spread in Australia, Greater Sydney will soon enter the third week of lockdown. With a low vaccination rate and slow vaccine distribution, temporary, pandemic-induced lockdowns may continue to be a norm for Australians through 2021. This note highlights trends that emerged from the housing market amid COVID-19- induced…
National home values rose 1.9% in June, taking annual growth to 13.5% for the financial year. The growth in Australian dwelling values was led by houses, which rose 15.6% over the year, compared to a 6.8% lift in unit values. This is the highest annual rate of growth seen across the Australian residential property market…
A staggering number of Aussie property owners made a profit on reselling their homes in the first quarter of 2021. CoreLogic’s Pain and Gain report for the March 2021 quarter found the portion of profit-making resales between January and March 2021 increased to 90.3% nationally, up from 89.1% in the previous quarter and the COVID-induced…
Despite a tumultuous 12 months which has seen our property markets suffer from COVID-induced dips to recording new high peaks, in the last 12 months 218 markets joined the million-dollar club. CoreLogic’s Million Dollar Markets report released on Friday revealed 892 Australian property “markets” had a median value of $1 million or more over the…
