Now that Spring has arrived we are seeing a lift in the number of new listings. While this is to be expected new listings are now higher than they were a year ago in most capital cities.
The CoreLogic RP Data Quarterly Review comprises a thorough breakdown of the activity across each of the capital cities over June 2015 quarter and also dives into the economic factors that contribute to the overall performance of the market.
Over the 2014-15 financial year vacant land selling prices have continued to rise across the combined capital cities. Meanwhile, vacant land prices have actually fallen over the year in regional markets.
A sharp rise in home values in two of Australia’s largest capital cities hasn’t flowed through to rental rates according to the latest CoreLogic RP Data rental review which today revealed that rental increases are now at their slowest pace on record at 0.7%, over the year.
Following ongoing increases in the annual rate of growth since March 2013, investor housing credit has fallen in July, does this mark the start of the much vaunted slowdown in investor credit growth?
Dwelling values moved 0.3% higher in August across CoreLogic RP Data’s combined capital cities index with Sydney values once again leading the pack with 1.1% growth over the month.
With home values rising across most capital cities, the proportion of home sales below $400,000 continues to trend lower making it harder for price-sensitive buyers to purchase into capital city markets.
Over the past financial year, 25.6% of all properties advertised for sale were taken to auction across Australia’s capital cities, with Melbourne still the clear leader in auctions.
A healthy 11% rise in combined capital city home values over the past twelve months has seen 437 suburbs now join the CoreLogic RP Data 'Million Dollar Club'.
According to analysis from CoreLogic RP Data, rental rates across the combined capital cities fell by -0.3% in July 2015 and the annual rate of growth continues to slow, reaching a new record low of 0.9%.
Buoyant market conditions have produced a sterling result for Australia’s property market with $2 trillion added to the market since 2009; this now brings the total value of the market to $6.0 trillion.
Alternative way of looking at the housing market by using quartiles data over median house price data.