Recently, I did something that, ordinarily, you’re not supposed to do - my wife and I sold up our five bedroom house in the suburbs and with our dog, the three of us moved to a three bedroom apartment in the inner-city; the reactions have been somewhat interesting with some saying they wish they could bring...
Auction activity is expected to remain relatively steady this week, with 3,066 homes scheduled to go to auction across the combined capital cities, this is an increase of 5 per cent on last week’s final figures which saw 2,907 auctions held and slightly higher than volumes from one year ago (2,987).
This week, there were 2,894 auctions held across the combined capital cities returning a preliminary auction clearance rate of 66.5 per cent, increasing on last week when the final auction clearance rate fell to its lowest reading since early 2016, when 61.5 per cent of the 2,045 auctions cleared.
Earlier this month CoreLogic released their October 2017 home value index results, in this week’s Pulse we focus on what these results look like across the regional housing markets.
The total value of housing finance commitments in September 2017 was $32.5 billion according to new data from the Australian Bureau of Statistics (ABS).
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 2,714 currently being tracked by CoreLogic, increasing from the 2,046 auctions held last week and lower than results from one year ago (2,897).
A slowdown in housing market conditions has helped to alleviate some of the pressure to raise the cash rate
There were significantly fewer homes taken to auction across the combined capital cities this week, after last week saw volumes reach a year-to-date high (3,713).
Dwelling approvals have fallen from their highs of recent years and been fairly steady over recent months however, in September 2017 the number of dwellings approved for construction increased on the back of a jump in unit approvals.
This week, there are fewer auctions scheduled to take place across the combined capital cities, with 1,862 currently being tracked by CoreLogic, this is half the volume of auctions recorded last week when the combined capitals saw the highest volume of auctions recorded since late 2015 (3,713)
Preliminary clearance rates hold firm as volumes across the combined capital cities reach their highest level year-to-date and Melbourne records its busiest auction week on record
CoreLogic is currently tracking 2,276 auctions across the combined capital cities this week, down from 2,525 last week.
CoreLogic collected 33 auction results in the week ending the 17th of November, representing a rebound from the 14 preliminary auction events collected in the previous week.
The latest research from Chapel Street Cityscope shows that commercial property sales have decreased in the past three months.
The latest research from Burke Road Cityscope shows sales have increased in total value in the quarter to November 2017.
In quite a large sale for the Melbourne suburb of Richmond, developer Salta Properties has paid $51 million for 459-471 Church Street.
CoreLogic collected just 14 auction results in the week ending the 10th of November, representing a significant decline in the 57 preliminary auction events collected in the previous week. Of the 14 auctions held, 8 sold at auction, suggesting a preliminary clearance rate of 57.1%.
Retail partners Vicinity Ltd and GIC Real Estate Pte Ltd have recently transacted one of the more unusual and rare commercial sales – an asset swap involving some of Sydney’s best loved shopping centres.
Sales recorded for Melbourne Units Cityscope for the three months to November 2017 totalled $573.1 million, an increase from the $406 million recorded for the quarter to August 2017 and the $179.3 million recorded for the quarter to May 2017.
The latest research from Richmond Cityscope shows property sales value have slightly decreased in the past three months.
The latest research from Auckland Cityscope shows that property sales value have increased over the past three months.
Read the Cordell Building Index report for November 2017 to know the movement of building work costs in particular segments of the construction industry.
Chatswood Central, a retail and office complex at 1 – 5 Railway Street, has changed hands recently. Read more.
CoreLogic collected 57 commercial auction results in the week ending November 3rd, which is substantially higher than the preliminary result of 18 events captured in the equivalent week last year.