CoreLogic Regional Market Update - September Quarter 2016

Several regional property markets located within driving distance to major capital cities have seen strong home price growth over the past quarter according to the latest Regional Market Update by CoreLogic.

Analysis of Australia’s largest regional areas, the regional update shows that the New South Wales region of Illawarra enjoyed the strongest performance by recording the largest annual increase in values for houses at 14.3 per cent, and 11.5 per cent for units. 

On the flipside, a not-so-good result for Queensland & Western Australia, with Townsville and Bunbury the only two regional markets to record a fall in values; each was down 2.2 per cent and 0.4 per cent respectively. Unit values were also lower across the five regions Again, the greatest falls occurred in Townsville (-4.5 per cent), and Bunbury (-4.1 per cent).

Year-on-year, transaction activity rose in News South Wales across the Richmond – Tweed region, while across all other regional markets analysed, sales activity was lower over the year.

Area specific Snapshot:

New South Wales:

  • Home values increased across each of the three regions over the year ending September.
  • Illawarra house values were up 14.3 per cent and unit values rose by 11.5 per cent over the year, recording the highest growth across all of the regions.
  • In the Newcastle and Lake Macquarie and the Richmond- Tweed regions, home values rose by less, however each property type saw gains of more than 6 per cent.

Queensland:

  • The Gold Coast and the Sunshine Coast were the strongest performing regions across the state over the period, with both house and unit values rising.
  • Townsville, Wide Bay and Cairns showed moderate growth or falling values over the year.

Victoria:

  • Geelong and Latrobe-Gippsland regions of Victoria over the year, down 1 per cent and 5 per cent respectively.

Western Australia:

  • Bunbury region saw house values fall by 0.4 per cent, while unit values fell by 4.1 per cent.

Included in this report are the larger regions outside of the Australian capitals comprising of: 

NSW: Newcastle & Lake Macquarie, Illawarra, Richmond-Tweed

VIC: Geelong, Latrobe-Gippsland

QLD: Gold Coast, Sunshine Coast, Townsville, Wide Bay, Cairns

WA: Bunbury


Would you like us to help you or provide additional information? If so, contact us at: media@corelogic.com.au or 1300 472 767 & speak with either Mitch Koper or Peta Crowe.


About CoreLogic

CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 4.4 billion decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.

With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au.

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