Over the past month leading up to 12th October 2024, rental prices in capital city asking rents exhibited mixed trends. Total capital city advertised rents rose by 0.5%. Sydney experienced a 0.9% increase in combined rents, reflecting a turnaround from a fall in rents over winter. Conversely, Melbourne recorded a 1.1% decline, indicating a softening…
![Australian housing market update [CoreLogic’s video] | October 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2017/10/House-business-section-analysis-270x200.jpg)
The new data on the housing market reveals that, at a macro level at least, values are still rising, but growth momentum is losing steam and conditions remain mixed quarter to quarter. Housing values nationally climbed 1% in the September quarter, the lowest growth in the CoreLogic national home value index in a rolling three-month…
Australia’s population grew by 2.3 per cent to 27.1 million people in March 2024, according to the latest figures released by the Australian Bureau of Statistics. Our population grew by 615,300 people over the previous year. Net overseas migration drove 83 per cent of this population growth, while natural increase made up the other 17…
Capital city home rental markets reported varied results over the first month of spring with vacancy rates continuing to tighten following the mid-year easing. House rents however were generally lower again with mixed rental growth for units. Most capitals again reported lower house rents over September with the exception of volatile Darwin with an increase…
A new analysis from CoreLogic has identified 65 markets in Sydney and Melbourne where values are below record highs from the 2010s and vendors are even willing to sell at a loss… but buyers aren’t interested. Housing affordability in Australia continues to deteriorate on several fronts amd the rate of newly built housing supply has…
The total value of new home loans approved in the month of August was $30.38 billion – just 1.0 per cent higher than was recorded the previous month. Growth in the month was again driven by investor lending, up $164.7 million, or 1.4 per cent, according to ABS Lending Indicator data released today. Investor lending…
On a national level, the asking prices are increasing slightly. Houses are up by 0.5% and units by 1.6%. The combined national change is a modest 0.7%. The average asking price across all capital cities shows a 0.9% increase. Still, there was a 1.3% rise in unit prices and a 0.8% increase in house prices….
The national rental index increased by just 0.1% over the September quarter, the smallest change over a rolling three-month period in four years. Sydney (-0.5%), Brisbane (-0.2%) and Canberra (-0.8%) all recorded a reduction in rents over the quarter and rental growth is clearly losing steam in most other capitals. Melbourne and Perth both recorded…
Dwelling values increased a modest 0.4% in the first month of spring, broadly in line with the monthly change in July and August at 0.3% as momentum continues to leave the market. Nationally, housing values rose 1.0% in the September quarter, the lowest rise in the national Home Value Index (HVI) over a rolling three-month…
National home prices increased by 0.04% in September, according to the PropTrack Home Price Index with price growth slowing as more homes are listed for sale, providing greater choice for buyers. Ms Eleanor Creagh, PropTrack’s Senior Economist said that the upswing in Australia’s home prices has persisted into the spring selling season, with national prices…
