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
While the budget speech referenced housing a few times, in the sense that falling housing prices represent a downside risk to budget forecasts, there was in fact very little in the budget directly focussed on the housing sector. With the performance of the housing and household sector so critical to the Government achieving their forecasts…
Australia’s national population is estimated to have increased by 109,057 persons over the quarter to be up 395,101 persons or 1.6% over the 12 months to September 2018 according to the latest Australian Bureau of Statistics (ABS) demographic arrivals and departures data release. While nationally the drivers of population growth are net overseas migration and…
Rental rates nationally have been falling since May 2018. Rental rates fell by -0.3% over the December 2018 quarter however, they were 0.5% higher over the past year. Annual rental growth is the slowest it has been since July 2016 and lower than the 2.7% growth recorded in 2017. Combined capital city rents fell by…
While Australia’s population continues to grow quite rapidly, the rate of growth has slowed. It was estimated that at the end of the June 2018 quarter, the national population was 24,992,369 persons. Australia’s population increased by 1.6% or 390,509 persons over the 12 months to June 2018. The 390,509 annual person increase in the national…
Dwelling approvals are now trending lower for houses and units. In November 2018, 15,465 dwellings were approved for construction nationally which was the fewest monthly approvals since August 2013. Approvals fell by -9.1% over the month to be -32.8% lower year-on-year. After peaking in November 2017, the number of approvals in August 2018 was -32.8% lower….
Decreased mortgage lending is slowing our property markets. The value of housing finance commitments is now in a clear downwards trend. In November 2018 there was $29.1 billion in housing finance commitments by Australian lenders. The total value of housing finance commitments fell by -2.5% over the month and was -13.1% lower year-on-year. The $29.1…
