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National Housing Market Update [Video] – May 2016

At the start of this month we’ve seen another cut to the cash rate taking official interest rates down to a new historic low of 1.75% with most of Australia’s largest banks passing on the full rate cut.

In this month’s video we discuss what’s happening around the various Australian property markets, including mortgage rates being the lowest they have been low since July of 1986.

In April, the pace of capital gains rebounded from the relatively flat numbers recorded in March, with dwelling values increasing by an average of 1.7 per cent across the CoreLogic RP Data combined capitals’ index.  

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The latest figures now take the combined capital city dwelling values measure 3.3 per cent higher over the first four months of 2016.

Across the country, housing market trends remain mixed, however, CoreLogic RP Data research noted that the improvement in the rate of capital gains has been ‘broad-based’ during 2016 with every capital city except Perth recording a lift in dwelling values over the calendar year to date.

The results show value growth moved at a faster pace compared with the final three months of 2015 when capital city dwelling values slid 1.4 per cent lower off the back of weaker market conditions in Sydney and Melbourne.

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The housing and economic data is derived from the CoreLogic Hedonic Home Value Index for the month of April, released May 2016.



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About

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


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