Four of the five busiest suburbs for auctions are in Victoria this week. Preston tops the list with 18 homes scheduled for auction, followed by Northcote (17) and Epping (16). While Manly in NSW and Glen Waverley (Vic) will each host 15 auctions.
Although nationally dwelling values have now fallen by -3.5% from their peak with much larger falls in Sydney, Melbourne, Perth and Darwin, the reality is there has been very little improvement in housing affordability.
Preliminary results show a clearance rate of 45.5 per cent this week, compared to 43.3 per cent last week, while one year ago, a final clearance rate of 60.9 per cent was recorded. As final results are collected we will likely see the clearance rate revise down below 45 per cent for the third consecutive...
This week’s Property Pulse looks at property sales over the past 12 years and compares them to the original advertised price to see if they sell for more, less or the same as that price and whether these trends are changing.
Since Q2 2018, the Perth market has lost momentum and the downwards trend in values has gathered some pace. For Perth property owners, as well as industry professionals in the finance and real estate sectors, the ongoing weakness in the Perth housing market is troubling.
The number of homes scheduled to go to auction this week is set to rise across the combined capital cities with CoreLogic currently tracking 2,602 auctions, up from 2,386 over the previous week.
The Australian Bureau of Statistics (ABS) released housing finance data for September 2018 earlier today and it showed a further weakening of demand for mortgages. Over the month, the total value of housing finance commitments was recorded at $29.1 billion which was the lowest monthly value since August 2014....
As the number of auctions held continues the seasonal rise, clearance rates are consistently trending lower, with the weighted average clearance rate recording seven weeks in a row below 50%
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 2,276 currently being tracked by CoreLogic, increasing from the 1,541 auctions held last week, although lower than results from one year ago (2,907).
The news has been awash with stories of falling house prices, less sales, lower clearance rates and more stringent lending policies in recent months. But despite these ongoing market and regulatory challenges, the Australian broking industry is in a remarkably healthy state.
This week’s Property Pulse takes a look at city-wide median dwelling values and compares those to each of the SA4 sub-regions within the capital cities to get a better understanding of typical housing costs from region to region.
According to the latest CoreLogic Home Value Index results for October 2018, national dwelling values have fallen by -3.5% over the past year and are -3.5% lower than their peak. Although this is a pretty moderate fall it is interesting to take a look at what this means and where values sit historically.