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
The RBA lifted the cash rate a further 25 basis points, to 3.35%, at their February board meeting, continuing what is now the fastest and largest rate hiking cycle on record. The cash rate has jumped 325 basis points since moving off record lows in May last year. Today’s rise in the cash rate was…
House prices are still falling, but the rate of decline is slowing. National dwelling values fell -1.0% in November, the smallest monthly decline since June. CoreLogic’s national Home Value Index (HVI) moved through a seventh month of decline in November, down -1.0% over the month to be -7.0%, or approximately -$53,400, below the peak value…
The number of suburbs in Australia’s million-dollar club has shrunk considerably in the past six months as the weight of rising inflation, consecutive rate hikes and falling property values takes its toll. Since April, the median value in 169 suburbs around the country has dropped below seven figures while only seven suburbs across capital cities…
Citing ongoing concerns about inflationary conditions, and the potential for tight labour markets to fuel further domestic inflation, the RBA continued along its less aggressive path of rate hikes in November, lifting the cash rate a further 25 basis points to 2.85%. The cash rate is now 30 basis points above the pre-COVID decade average…
With the recent growth phase well behind us across most regions of the country, attention is squarely focused on how much housing values could fall before levelling out. After CoreLogic’s national Home Value Index (HVI) surged nearly 29% through the recent growth phase, the full extent of how far housing values will fall remains highly…
Patience is a virtue, particularly when it comes to Australia’s penchant for residential property. The short-term trends may be the talk at a weekend barbecue and in the media, but Australians tend to hold their homes a lot longer than a typical market cycle. For some context, Australia’s median hold period (ie the number of…
The RBA took the cash rate another 50 basis points higher at the September board meeting, citing ongoing inflationary pressures amidst a tightening labour market. The cash rate setting, at 2.35%, is now at the highest level since January 2015, but still slightly below the pre-COVID decade average of 2.56%. Housing markets have reacted negatively…
New Zealand has provided Australia’s property experts with a test case this year, following the central bank’s decision to move early with rate rises in an effort to combat rising inflation and a runaway housing market. As one of the first developed economy nations to lift rates, the Reserve Bank of New Zealand (RBNZ) announced…
As widely expected, the Reserve Bank of Australia (RBA) lifted interest rates by another 50 basis points today. The fourth rate hike in as many months, today’s decision takes the cash rate from an emergency low of 0.1% to 1.85%. Since commencing the tightening cycle on 5 May 2022, the cash rate has risen…
As household balance sheets become more thinly stretched due to rising interest rates and high prices for essential goods such as fuel and food, there is a renewed level of focus on how mortgagors (i.e. homeowners with mortgage debt) are traversing the changing environment. Policymakers and lenders will be watchful for any signs of distress…
