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Auction clearance results March 2nd – More Solid Auction Results Generally to Start Autumn
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Auction results remained generally encouraging for sellers despite another relatively big day of auctions to commence Autumn. Auction results around Australia, Saturday March 2nd 2024: Capital City This Saturday Last Saturday Auctions Rate Auctions Rate Sydney 851 74.9% 1004 73.7% Melbourne 114 65.4% 1263 68.5% Brisbane 77 68.3% 102 59.5% Adelaide 102 76.2% 108 81.2%…

The latest median property prices in Australia’s major cities
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Australia’s housing upswing continued through February with the national Home Value Index rising 0.6%,  the strongest monthly gain since October last year. Beneath this headline result, housing market performance remains diverse around the country. While each of the capital cities and rest-of-state regions recorded a lift in values over the month, Hobart’s market fell -0.3%….

Housing construction slows; Victoria to fall far short of supply target
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With another building firm going into administration yesterday, affecting a further 120 projects, it wasn’t a great surprise to see that home-building activity was falling sharply in late 2023 as the pipeline shrunk. Apartment construction held up better. I’ve been of the opinion that anti-landlord legislation and new land taxes will stifle the supply of…

Housing price growth gathers speed in February as sentiment improves | Corelogic Home Value Index
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Housing values posted a broad-based rise in February with CoreLogic’s national Home Value Index (HVI) up 0.6% in February. The 20 basis point acceleration from the 0.4% increase seen in January was the strongest monthly gain since October last year. Each of the capital cities and rest-of-state regions recorded a lift in values over the…

Home Prices Higher Over February 2024 | Latest Housing Market Stats
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National house prices increased over February 2024 following the steady start to the year reported over January, although capital city results varied significantly. The national capital city median house price increased by 0.8% to $1,094,943 over the February quarter compared to the January quarter, according to the latest data from My Housing Market. The national…

New home demand soars amidst approval downturn
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We know that we’re just not building enough homes despite soaring demand for more accommodation. According to PropTrack’s  New Homes Report, December saw a 9.5% drop in total building approvals, a stark contrast to the modest 0.3% increase in November. This decline was particularly pronounced in unit approvals, which plummeted by 25%, and to a…

This week’s Australian Property Market Update – Latest Data, State by State February 27th 2024
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Australia’s housing is so horribly undersupplied that I’ve rarely encountered a supply-demand inflection point like this. Locating a good property to buy or rent is more elusive than finding the missing car keys. And it’s only going to get worse. The renewed level of confidence returning to our housing markets was shown once again by…

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