Indices
CoreLogic Indices are a series of statistical measures that summarise the historical and on-going performance of the Australian residential property market through multiple dimensions including capital gains, rental income and total return.
Rigorous and regular analytics
Every day, rigorous analytics are run on every residential property in Australia to create a value index. This is headlined by CoreLogic’s Hedonic Home Value Index, which provides the a timely and robust benchmark for assessing the performance of the residential property market. Click here for an overview on our indices.
Leveraging the industry's best practice hedonic methodology, CoreLogic Indices are one of the best measure of housing market performance in the country with full historical trends available dating back to the 1980s. Not only are CoreLogic Indices trusted by regulators and major institutions such as the ASX, Reuters Bloomberg, policy makers and the banking sector, they are built on 30+ years of industry experience on collecting and compiling the broadest and deepest property level information database in the country.
Features include:
- Rigorous hedonic regression method
- Daily home value indices
- Indices available on a daily, monthly and quarterly basis
- Available across capital cities and regional markets by subscription
- Back series available
Types of Indices
CoreLogic has a suite of world-class property price indices that have transformed the way Australians measure and understand changes in the value of residential real estate. Click here for more information on the types of indices.
There are three different indices:
- CoreLogic Hedonic Indices
Also known as the CoreLogic Daily Home Value Index Construct, this indices is a hedonic model that uses comprehensive information on the attributes and characteristics of residential properties (such as location, land size and bedrooms) to measure “quality-adjusted” changes in property value over time. It also imputes the value of dwellings having a certain set of characteristics (but no current sales price) by observing the sales prices and characteristics of other dwellings which have recently been observed as selling.
- CoreLogic Stratified Median Price Indices
The second class of indices is a “stratified” median price series. Stratification is a process for creating subsets of houses which are qualitatively similar. Unique price series are created for these subsets which are then aggregated to estimate suburb-adjusted price movements in the overall market. The strata definitions used to classify properties into subsets are based on price, geography, land size, and interactions of these variables. The stratified median index that CoreLogic produces for units and apartments, groups suburbs by their long-term median transaction price. The stratified median index that CoreLogic produces for houses groups suburbs by their long-term price to land size ratio.
- CoreLogic Repeat Sales Indices
The third type of index estimates the performance of the market by analysing the returns on individual properties for which there are at least two observed sales prices, each at different points in time.
Repeat sales indices seek to control changes in the composition of properties selling in different periods without requiring any property attribute data (other than address). They do this by only examining properties which have two separate sales records.
New methodology
On 1 September 2017, CoreLogic released an improved and enhanced methodology behind its Home Value Index. New features include improved sampling, better handling of off-the-plan-sales, dynamic stock weights, model upgrades, updated geographic boundaries and a scalable production environment. Click here for more information.
The outcome of the improvements and enhancements include:
- Less volatility in the day-to-day and month-to-month readings without sacrificing capital return estimates.
- Longer back series (from 1980 in most areas)
- Improved valuation estimates = higher precision in the index results
- Full geographical hierarchy of reporting (National through to SA2)
- A method that aligns with best practice across Europe and that is endorsed by the IMF and BIS
Features
Get unparalleled insights into the portfolio value of housing across each capital city and major regional market.
Build up a picture of property market value performance by tracking capital city and regional home values.
See at a glance cities that are performing poorly or that are seeing an improving trend so you can take steps to minimise your exposure.
Back series are available back to 1980 for most areas.
The CoreLogic monthly estimates are more timely and reliable than the ABS's quarterly readings
The suite of indexes calculated by CoreLogic represents a significant improvement in the quality of housing price statistics available in Australia
Buy CoreLogic Indices Now
Gain access to CoreLogic's trusted residential property index series. Leverage our best-practice hedonic methodology to inform your business decisions.
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