Home values increased by 1.0% in September 2016 with values 2.9% higher over the third quarter
Combined capital city home values increased by 1.0% in September with values rising in all capital cities except for Perth and Darwin
Home values were 2.9% higher over the three months to September 2016 with home values in Brisbane, Perth and Darwin falling over the quarter
Over the first nine months of 2016, capital city home values have increased by 8.6% and Perth and Darwin are the only cities in which values have fallen
Over the past 12 months, combined capital city home values have increased by 7.1% which is up from a recent low of 6.1% at the end of July
Across the individual capital cities, the annual change in home values have been recorded at +10.2% in Sydney, +9.0% in Melbourne, +3.0% in Brisbane, +6.5% in Adelaide, -7.0% in Perth, +8.7% in Hobart, -6.0% in Darwin and +9.0% in Canberra
Capital city house values have increased by 7.3% over the past year compared to a 6.1% increase in unit values
Settled home sales have continued to trend lower
Over the 12 months to September 2016 it is estimated that there were 326,662 houses and 128,432 units sold and settled nationally with house sales -9.3% lower and unit sales -14.9% lower over the year
Across the combined capital cities there were an estimated 197,108 houses and 92,986 units sold over the 12 months to September 2016. House sales are -12.5% lower over the year while unit sales are down -17.2%.
Most capital cities are seeing the number of sales trending lower however, there are signs in Perth that sales are stabilising while they are starting to rise in Adelaide and Darwin
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, these properties will be entered into the database at their contract date but will not be available until they have settled.
Selling time and discounting levels for homes have been steady over recent months
The typical capital city house is currently selling after 49 days compared to 38 days a year ago while the typical capital city unit takes 48 days to sell compared to 36 days a year ago
The average level of discount is recorded at 5.8% for houses and units compared to 6.1% for houses and 5.4% for units 12 months ago
Auction clearance rates have rebounded in 2016 and have been sitting at above 75% for the past five consecutive weeks
New listings are much lower than a year ago while total listings are at similar levels
Over the past 28 days there were 45,634 new homes listed for sale nationally and 27,337 of these were listed across the capital cities
New listings are 0.5% higher than they were a year ago nationally and -2.6% lower across the combined capital cities
There were 231,650 total listings nationally over the past four weeks and 103,739 total capital city listings
Nationally, total listings are -1.9% lower than a year ago while they are 3.4% higher across the combined capital cities
In Sydney in particular there a significantly fewer new listings than there were at the same time a year ago
Economic data remain mixed
New lending to both investors and owner occupiers has fallen from recent peaks with investor lending recording a much greater decline however, investment lending increased in July
Total housing credit is rising however, investment credit growth continues to slow and is now increasing at a rate which is less than half that of APRAs 10% threshold for annual growth although monthly data shows growth in investor credit is picking-up
The rate of population growth at a national level is lower than recent highs but has steadied over recent quarters thanks to improving net overseas migration
Dwelling approvals eased a little in August but remain at historically high levels
Consumer sentiment remains at a fairly neutral setting
The unemployment rate was recorded at 5.6% in August although employment growth continues to be largely driven by part-time rather than full-time employment
The Reserve Bank left official interest rates on hold at 1.5% in October 2016
Detailed housing and mortgage market statistics
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