Monthly Housing Chart Pack, January 2022

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

  • The combined value of residential real estate in Australia climbed to $9.6 trillion at the end of December, up from $9.4 trillion in the previous month.
  • Dwelling values in Australia are 22.1% higher over the past 12 months, down from 22.2% in the 12 months to November.
  • The highest annual growth rate in dwelling values among the regional and capital city dwelling markets was across regional NSW, at 29.8%. The lowest rate of appreciation in values was across Regional NT, at 8.3%.
  • While quarterly growth rates softened in many capital city markets over the three months to December, Brisbane and Adelaide housing markets stand out as exceptions to the slowing growth trend.
  • The high end of the market has lost some momentum. The top 25% of combined capital city home values increased 2.6% in the 3 months to December, compared to a 3.7% rise across the lowest 25% of values.
  • In the month of December, dwelling values across Melbourne declined -0.1%, which is the first decline in Melbourne home values since October 2020.
  • Sales volumes rose 44.1% in the 12 months to December, and transaction volumes through the month of December were estimated to be 44.8% above the  five year average, at 58,252.
  • Through the second half of 2021, the number of days a property took to sell started to stabilise. In the three months to December, the median time on market for Australian properties was 24 days, up from a recent low of 22 days in the three months to November.
  • Across the combined capitals, vendor discounting has dropped slightly from a recent high of -2.8% in the three months to May, to -3.0% over the three months to December.  
  • For the four weeks ending 26th of December, new listings added to market reached 31,503. This is the highest level in five years for the equivalent period. However, total listings remained -24.7% below the 5-year average due to strong absorption from sales.
  • The combined capital cities clearance rate continued to trend lower through December. In the four weeks to December 19th, the clearance rate averaged 65.0%, as weekly volumes reached record high counts.
  • In the year to November, Australian rent values increased 9.4%, led by a 12.1% increase in regional rent values.
  • Gross rent yields continued to trend lower through December, reaching a new record low of 3.22% nationally.
  • Total housing finance secured for the purchase of property fell for the third consecutive month in October, by -2.5%.
 

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