Monthly Housing & Economic Chart Pack, January 2020

This month’s chart pack has been written by the CoreLogic Research Team. Also included below is a detailed overview on the key findings covered in this month’s report.

Monthly highlights

  • National dwelling values increased 4.0% over the December quarter, which was the fastest quarterly growth rate since November 2009
  • Combined capital city dwelling values were 4.7% higher over the December quarter and combined regional market values were up 1.5%.
  • In December 2019 quarter, dwelling values were higher across Sydney (6.2%), Melbourne (6.1%), Hobart (3.4%), Brisbane (2.4%), Canberra (2.3%), and Adelaide (1.4%), while Darwin (-1.4%) and Perth (-0.1%) values were lower.
  • Perth values were flat over the month of December, marking the second consecutive month values did not fall. 
  • The highest end of the market led growth in Sydney and Melbourne over 2019, with the quartile value up 7.0% in Sydney and 7.6% in Melbourne. This trend was not observed across other capital city areas. 
  • Sales volumes are trending higher, with the number of settled sales up 2% nationally over 2019
  • Combined capital city rent values increased 2.7% nationally over 2019, however a stronger rebound in property values has seen rental yields continue to trend down
  • The median number of days of market has fallen significantly over 2019, with days on market down to 34 from 41 at the combined capital cities level
  • New listings have fallen -10.8% over the year, while total listings are down -7.7%. The decline in stock for sale may continue to ease as sellers return to the market amid a price upswing.
  • Higher demand levels are seen in the auction clearance rate. 2019 finished with a clearance rate of 69.5%, which is 28.4 percentage points higher than the same week in the previous year
  • The investor portion of total new mortgage lending is at a decade low in NSW, and near-decade low in VIC, as growth in owner-occupier credit continues to outpace investors
  • The average standard variable mortgage rate continued to track at 4.8% in December, the lowest rate since at least the 1950’s

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