Following a 0.4% decline in May, the CoreLogic Home Value Index recorded a second consecutive month of falls, with the national index down 0.7% in June. Each of the five largest capital cities recorded a decline in home values over the month, ranging from a drop of 1.1% in Melbourne and Perth to 0.2% in…
Articles by Tim Lawless
Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au
Sydney home values recorded their first month on month decline in a year, with values down 0.4% in May. CoreLogic has released their newest housing market update for June 2020. Weakness was mostly evident across the top quartile of the market where values were down by 0.6% over the month compared with a 0.1% rise…
Brisbane home values have lost their upwards momentum through 2020, but they’ve held reasonably firm through the past few months. CoreLogic has released its newest housing market update for June 2020. The monthly pace of growth has faded from a recent high of 0.8% late last year to slip into negative growth territory in May,…
Melbourne home values were 0.9% lower in May, following a slight fall in April, taking the cumulative drop in values across the city to 1.2% from the record highs set in March 2020. CoreLogic has released their newest housing market update for June 2020. Similar to Sydney, Melbourne’s weakest housing market conditions are confined to…
Adelaide was one of the few housing markets to record a rise in housing values through May. Over the month the Adelaide market recorded a rise of 0.4%, with house and unit values recording a similar lift. The strongest conditions over the month came from the Western suburbs where values were up 1.1% in May,…
Perth home value was down 0.6% in May, breaking a six-month streak where housing values avoided a fall. Each of Perth’s sub-regions recorded a fall in home values over the month, ranging from a 1.7% drop in Mandurah to a virtually flat 0.1% fall across the most expensive Inner region of the city. While housing…
It’s great that, as a nation, we’ve flattened the virus curve back to virtually nothing over the past month and subsequently many of the social distancing policies that have impacted on housing markets and economic activity have either been relaxed or lifted. Some states have opened up their borders, and, in most areas, the number…
According to the CoreLogic Home Value Index results for May, Australian dwelling values posted their first month-on-month decline since June last year. The national index was down 0.4% over the month, with five of the eight capital city regions recording a fall in values. The reduction in values through May comes as transaction activity in…
What has Coronavirus affected our finance markets? Prior to the onset of COVID-19, housing finance conditions were becoming more accommodative for potential buyers. This was enabled through: The repeal of temporary macro-prudential measures; The halving of the cash rate between June and October 2019; and, Declines in the typical mortgage serviceability assessment rate from 7.3%…
The economic outlook for the Australian economy prior to COVID-19 was modestly positive. Growth in housing market values was expected to extend over 2020, though it was anticipated that growth momentum would slow in the wake of affordability constraints, and higher levels of listings. Amid the onset of COVID-19, and the resultant economic shutdown, the…
