Monthly Housing & Economic Chart Pack, October 2021

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 home values rose 20.3% in the year to September, the highest growth rate since June 1989.
  • National home values rose 4.8% in the September quarter, which eased from a 6.1% increase in the June quarter.
  • The annual appreciation remained higher across the combined regional Australian dwelling market (23.1%) compared with the combined capital cities market (19.5%).
  • The highest annual growth rate among the regional and capital city dwelling markets was across regional Tasmania, at 27.2%.
  • In the three months to September, the top 25% of values across the capital cities rose 5.7%, compared to 2.6% across the lowest 25% of values.
  • The 28-day change in the hedonic home value index trended down through June, July and August, but seems to have stabilised a little toward the end of the month. Across the combined capitals, the rolling 28-day growth rate peaked at 2.8% in late March for the current cycle.
  • Strong growth across the Perth dwelling market sees values just -2.5% below the previous record high, which was in June 2014.
  • Sales volumes rose 41.9% in the 12 months to September, and transaction volumes through the month of September were estimated to be 25.5% above the five year average.
  • In the 3 months to September, Australian properties typically took 30 days to sell, compared with 42 days over the same period of 2020.
  • Vendor discounting remains extremely tight nationally, at -2.9% in the three months to September, compared with -3.6% in the same period of 2020.
  • New listings have trended higher through September, as social distancing restrictions have started to ease and the spring selling season sees a seasonal uplift.
  • Total listings remained -27.4% below the five year average due to strong absorption from sales.
  • Auction clearance rates have recovered strongly through September, as Melbourne saw some restrictions eased around property inspections. For the past 4 weeks, the average final clearance rate across the combined capital cities was 74.3%.
  • In the year to September, Australian rent values increased 8.9%, which is the strongest annual appreciation in rents since July 2008.
  • Gross rent yields continued to trend lower through September, reaching a fresh record low of 3.3% nationally.
  • Debt to income ratios of six or more jumped to 21.9% of new mortgage lending through the June quarter, and APRA has released new guidance on serviceability assessment rate buffers for new mortgage lending.

Detailed housing and mortgage market statistics CoreLogic produces an advanced suite of housing market analytics that provides key insights for understanding housing market conditions at a granular level. Granular data is often used for portfolio analysis and benchmarking, risk assessments and understanding development feasibility and market sizing. It gives industry professionals valuable modules which provide essential analytics and insights for decision making and strategy information within the residential property asset class. CoreLogic can tailor reports to suit your business requirements. For more information contact your CoreLogic account manager or email [email protected].