The cost of vacant land has risen again in 2014 however, the typical area of those vacant lots which have sold has actually increased over the past year reversing a more than 20 year trend of reducing lot sizes.
Based on CoreLogic RP Data’s estimates of residential sales transactions to December 2014, there were 471,932 dwelling sales nationally.
Early signs are emerging that lower mortgage rates are providing further stimulus to housing market conditions.
Mortgage rates have been moving lower since late 2011, however the stimulus is only driving dwelling values substantially higher in Sydney and Melbourne.
The Australian Bureau of Statistics (ABS) latest housing and lending finance data shed light on the level of activity by investors in the housing market at a national and state level.
Following the release of Consumer Price Index (CPI) data by the Australian Bureau of Statistics (ABS) last week, we can calculate inflation adjusted home value changes over 2014.
The cost of Sydney housing relative to other capital cities is widening and the cost of buying a house as opposed to a unit is increasing as a record number of units commence construction.
Over the five years to December 2004, combined capital city home values increased by a total of 77.0% compared to total growth of just 19.7% over the most recent five years highlighting lower overall capital growth conditions recently.
A quarterly assessment of realised gross profit and loss based on dwelling re-sales over the September Quarter of 2014
Over the 2014 calendar year, advertised rental rates on a national basis increased by 2.6% for both houses and units.
As always, there were certain areas across the country that have outperformed others. The report includes top performing suburbs nationally and across the capital cities over the 12 months to September 2014.
The CoreLogic RP Data Quarterly Review comprises a thorough breakdown of the activity across each of the capital cities over October 2014 quarter and also dives into the economic factors that contribute to the overall performance of the market.