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
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…
A cash rate forecast update from ANZ Bank has reverberated through the banking and finance and property industries this week. The Reserve Bank has also publicly stated the official interest rate is still probably well below where it needs to be. More will be known following next week’s June quarter inflation figures, followed closely by…
The cost of building a new home is soaring! CoreLogic’s Cordell Construction Cost Index (CCCI) for Q2 2022 showed national residential construction costs increased 10.0% over the 12 months to June 2022, the highest annual growth rate on record outside of the introduction of the GST (10.2% over the year to March 2001). The CCCI…
Commentary leading up to the RBA monthly board meetings has pivoted from if interest rates will rise to how much interest rates will rise. Most forecasts were leaning towards a 50 basis point lift in the cash rate, and that is exactly what the RBA delivered, along with further commentary focussed on high inflation, which…
Higher costs for essentials and higher interest rates will be a ‘double whammy’ for households. As universally expected, the RBA made the decision to raise the cash rate at their June meeting, however, the 50 basis point hike was larger than expected. The latest move takes the overnight cash rate to 0.85%. Interest rates consistently…
Sydney and Melbourne have been the first capital city housing markets to record negative monthly growth rates this year, joined most recently by Hobart in April, its first fall after 22 consecutive months of growth. But within each of those areas as well as Australia’s other capital cities, micro-market trends are emerging, coinciding with higher…
Housing was a defining issue of this month’s Federal Election and the Labor party’s win brings with it a raft of policy measures designed to address the property market’s biggest issues. The headline ‘Help to Buy’ scheme is likely to be popular with prospective homebuyers, as it provides a more affordable entry point to the…
The RBA has acted to curb high inflation by lifting the cash rate target today, moving from the emergency lows of 0.1% to 0.35%, an increase of 25 basis points. An upwards move was anticipated, given soaring inflation, but the timing and magnitude of the lift are likely to be regarded as controversial, given the…
Over the month of March, growth in houses was 0.5% across the combined capital cities, outperforming the growth in the value of apartments. This continues the annual trend where houses grew 22.9% over the last 12 months while apartments only grew in value by 13.2%. At the national level, units recorded a 0.3% rise in…
Increasing storm surges and coastal erosion has the potential to impact $25 billion worth of Australian residential coastal property. The risk score methodology used by Corelogic evaluates combined coastal risks based on compounding storm surge (rapid erosion) and change in coastline (slow erosion), with the latter also implicitly considering ongoing rising sea level trends. It…
