Monthly Housing & Economic Stats In 6 Charts, December 2015

Here’s a summary of the latest property market and economic stats for the month from Corelogic.

Home values fell in November and are lower over the past 3 months

  • Combined capital city home values fell by 1.5% in November and only rose over the month in Brisbane, Adelaide and Perth
  • Home values were 0.5% lower over the three months to November with values down in Sydney, Melbourne, Perth, Hobart and Darwin
  • Over the past 12 months, combined capital city home values have increased by 8.7% however, only Sydney (12.8%) and Melbourne (11.8%) have recorded significant growth with moderate increases in Brisbane (4.0%), Adelaide (3.3%), Hobart (1.1%) and Canberra (4.5%) and values declining in Perth (-4.1%) and Darwin (-4.2%)

Screenshot 2015-12-14 22.10.01

House sales have levelled while unit transactions are trending lower

  • Over the 12 months to September 2015 there were 357,870 houses and 137,181 units sold nationally
  • House sales are 2.0% higher over the year while unit sales are -8.0% lower
  • It is important to note, the large volume of off-the-plan sales currently means there is a high likelihood unit sales volumes will be revised higher over the coming years

Screenshot 2015-12-14 22.12.25

Rental rates are rising at their slowest annual pace on record

  • Capital city rental rates have increased by just 0.3% over the past year which is their slowest annual rate of growth on record
  • With record low rental growth and strong value growth rental yields have also fallen and sit at 3.5%

Rental yields

Homes continue to sell quickly with low discounts however, both measures have increased lately as auction clearance rates have eased

  • The typical capital city home is currently selling after 38 days on the market compared to 37 days a year ago
  • The average level of discount is recorded at -5.5% compared to -5.6% a year ago
  • Auction clearance rates are trending lower after reaching 80% earlier this year they are now sitting at around 60%.

Screenshot 2015-12-14 22.05.42

New and total listings have started to fall at the end of spring

  • Over the past 28 days there were 48,643 new homes listed for sale which is -4.4% lower than a year ago
  • Over the same timeframe there were 249,133 total homes listed for sale which is -2.8% lower than a year ago

Screenshot 2015-12-14 22.07.20

Economic data remain mixed

  • New lending to investors has eased sharply over recent months with new lending to owner occupiers now the biggest source of mortgage demand\
  • Total housing credit is rising however, investment credit growth continues to slow and is now below APRAs 10% threshold for annual growth
  • The rate of population growth at a national level continues to slow
  • Dwelling approvals remain very high although they are slightly below their record high.  Over the past year there has been more than 234,000 dwelling approvals
  • Consumer sentiment increased in November with respondents slightly more optimistic than pessimistic
  • The unemployment rate eased to 5.9% in October however, part-time jobs growth continues to outpace full-time growth
  • Official interest rates remained on hold in December with the market anticipating no move in official interest rates over the next 18 months

Population Growth



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