The popular myth in Australian real estate is that property prices double every seven to ten years. In this week’s Pulse we test this myth, looking at the number of suburbs that have seen median selling prices double over the past decade.
The CoreLogic Quarterly Review comprises a thorough breakdown of the activity across each of the capital cities over the quarter to July 2016 and also dives into the economic factors that contribute to the overall performance of the market.
Data released earlier this month showed that over the 12 months to June 2016 combined capital city rental rates had fallen by -0.6%. While capital city rental rates are broadly falling, there are regions where rents are still rising.
Last week the Australian Bureau of Statistics (ABS) released its annual regional population growth figures for the 2014-15 financial year. As far as capital city regions go the data showed that population growth in Melbourne is booming.
Each quarter the Reserve Bank (RBA) releases its selected ratios of household finances. The latest data for December 2015 shows the ratio of household and housing debt to disposable income has continued to climb.
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.