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
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…
The proportion of homes sold at a profit was rising late last year as the housing market rebounded from its slump, according to the latest Corelogic Pain and Gain report. But this was based on sales from before the coronavirus outbreak and things are very different now. Clearly real estate transaction volumes will continue fall…
The Australian Bureau of Statistics reports on housing prices quarterly using a stratified median methodology. This method is different to CoreLogic’s hedonic regression series; in simple terms, the stratification methodology measures price changes across a number of ‘strata’ or sub-regions before aggregating the data back to the capital city level. Generally the ABS and CoreLogic…
Spurred on by a rise in national dwelling values after a long period of decline, property values around Australia are now up 4.7% since finding a floor in June through to the end of November. The rebound in housing values has been largely driven by Sydney and Melbourne where values have recovered by more than…
The number of residential properties advertised for sale this spring has been lower than last year across every capital city due to both less fresh stock being added to the market together with a rise in buyer activity. The number of new listings added to the national housing market through November was up 56% from…
