There were 2,614 homes taken to auction over the week, down from the previous week when 2,749 auctions were held, and lower than this week last year when 3,371 auctions were held across the combined capital cities.
As dwelling values and transactions decline and stock for sale mounts properties are taking longer to sell across most regions of the country.
As credit availability has continually tightened over recent years, transaction volumes in the housing market has fallen leading to a reduction in turnover.
The busiest suburb for auctions this week is Victoria’s Reservoir, with 26 homes set to go under the hammer. Following with 19 scheduled auctions each is Port Macquarie and Randwick both in NSW and Glen Waverley (Vic).
This week 2,742 homes were taken to auction across the combined capital cities, only slightly higher than the 2,701 auctions held last week.
The release today of the CoreLogic November hedonic home value index results confirmed that national dwelling values slipped by 0.7% over the month, led by Sydney where the drop was double the national average.
Earlier today the Reserve Bank (RBA) released its financial aggregates data for October 2018. The housing credit data is of particular interest. It covers data from all local mortgage lenders and measures the value of mortgages outstanding. The data is important because it highlights the expansion or...
CoreLogic Australia’s latest ‘Mapping the Market’ report has just been released, using location analytics and geospatial expertise to give a visual understanding of Australia’s property market.
This week, all of the busiest suburbs for auctions are in Victoria, topping the list with 25 scheduled auctions is Glen Waverley, followed by Glen Iris (18) and Reservoir (17), while Bentleigh East and St Kilda each have 16 auctions scheduled.
A newly released CoreLogic report focusing on Australia’s property market performance in larger regions outside of the capitals has found the Geelong region recorded the largest annual increase in median values for both houses and units.
There were 2,689 homes taken to auction over the week, down from the previous week when 2,745 auctions were held, and much lower than this week last year when 3,438 auctions were held across the combined capital cities.
The volume of housing stock listed for sale is currently higher, for this time of year, than it has been in many years. Data suggests that it isn’t a dumping of stock onto the market which is leading to a lift in total listings, rather the fact there are fewer buyers and sales are taking longer to achieve.