![Melbourne housing market update [video] | December 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2020/01/melbourne-1-270x200.jpg)
Melbourne’s housing market is continuing to navigate a relatively mild downturn, with housing values falling a further 0.4% in November to be down 2.3% over the past 12 months. Values are now 5.5% below their record highs set in March of 2022, and they’ve risen by only 12% over the past five years, which is roughly a…
![Australian housing market update [CoreLogic’s video] | December 2024](https://cdn.propertyupdate.com.au/wp-content/uploads/2017/10/House-business-section-analysis-270x200.jpg)
As we wrap up 2024, the housing market’s setting up for a relatively weak start to 2025. For November, the National Home Value Index saw an incremental increase of just 0.1%, the smallest rise since January 2023, suggesting that growth momentum may be fading after an extended period of 22 months. Notably, major cities like Melbourne…
The 2024 auction season has principally concluded with solid results overall although clearance rates in some capitals were predictably lower as the holiday season rapidly approaches. This weekend’s auction results around Australia: Capital City This Week Last Week Saturday Last Year Auctions Rate Auctions Rate Auctions Rate Sydney 979 61.7% 1169 62.4% 925 66.2% Melbourne…
Over the past month leading up to 12 December 2024, rental prices across Australia’s capital city asking rents showed varied trends. In Sydney, combined rents decreased by 0.9% to $830 a week, reflecting a softening in rental demand. Melbourne saw a modest rise of 0.3%, with combined rents now at $629, driven primarily by an…
As the dust settles on a turbulent year in real estate, the absence of Chinese investors is emerging as an interesting shift in Australia’s housing market. Chinese buyers, once some of the most significant contributors to the new apartment sector of housing markets are dramatically scaling back their involvement. Data from the Foreign Investment Review…
The hopes for a December rate cut were slim leading into today’s meeting, with financial markets giving just a 6% chance of a rate cut in December. That’s not surprising given the rise in the monthly inflation indicator through October to 3.5%, alongside ongoing tightness in labour markets, where the unemployment rate has held around…
2024 has been quite the year for property. From interest rates remaining higher for longer than most of us would have liked to strong population growth and continued supply issues, the market has thrown us both challenges and opportunities. But overall, the markets have shown their resilience, with property values being higher in most locations…
Want to know what’s happening to the housing markets around Australia? Well… this monthly collection of charts from CoreLogic paints an interesting picture. This year’s spring selling season proved less successful for sellers than last year’s with overall sales volumes 4% lower than the historic average, according to CoreLogic’s Housing Chart Pack for December which assessed…
Imagine living on a street where the median house price rivals the GDP of a small nation. Now, picture the breathtaking harbour views, iconic mansions, and prestige that come with it—welcome to Australia’s most expensive streets. Australia’s elite real estate hotspots From Sydney’s shimmering coastline to Melbourne’s leafy enclaves, certain streets are synonymous with wealth,…
Nationally, the asking prices for houses and units show mixed trends. House prices declined by 0.2%, while unit prices increased by 0.4%, resulting in an overall drop of 0.1%. Across all capital cities, the average asking price experienced a decrease of 0.8%, with house prices dropping by 0.9% and unit prices declining by 0.7%. In…
