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
CoreLogic estimates there were almost 598,000 house and unit sales across Australia over the year ending August 2021; the highest number of annual sales since 2004 and a 42% lift on the annual number of sales over the previous 12-month period. Nationally, the number of dwellings sold over the past year was 31% above the…
The Olympics should work as a positive influence on Brisbane housing market conditions. However, with the Games still some eleven years away, the flow-on effects are likely to be gradual and centred around significant infrastructure upgrades and the associated medium-term uplift in jobs and longer-term improvements in transport efficiency. The most significant positive influence on…
Owner occupiers have been the primary driver of the housing market rebound, comprising 76% of all new home loans over the twelve months to March 2021 compared with the decade average where owner occupiers have comprised a smaller 65% of demand; but the mix of housing activity is starting to change as investors become more…
The pace of capital gains across Australian housing markets has been close to record breaking, with the national growth rate in March the fastest since 1988. Such exuberant conditions have been driven by a multitude of factors including record low mortgage rates, a stunning surge in consumer confidence as the economic recovery beats expectations, a…
Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October 2020 saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators. This was mostly driven by a $15.8 billion increase in lending…
Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Though performance was mixed across the state and territories, the national housing market had seen a -0.8% decline in the June quarter, which deepened to -1.7% in the three months to August. However, in recent months the…
The decline in national rental values eased over the September quarter, down -0.2% from -0.5% over the June quarter. The improvement in the rate of decline of the broad figures can be attributed to a rise in regional market rents. Regional dwelling rental rates rose by 1.2% over the third quarter of 2020, after a…
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%…
What’s going on in our property market in these uncertain times? How has COVID 19 affected us? That’s clearly important to know because the performance of the property market directly and indirectly impacts the livelihood and success of hundreds of thousands of Australian individuals and businesses. Property remains the largest asset class in Australia by…
