The busiest suburb for auctions this week is the Melbourne suburb of Bentleigh East, with 19 homes set to go under the hammer, followed by the Sydney suburbs of Maroubra and Paddington with 18 and 17 auctions scheduled respectively.
There were 1,444 homes taken to auction across the combined capital cities over the week, increasing from the previous week when 928 auctions were held, although lower than this week last year when 1,992 auctions were held.
Data for lending to households and businesses data for December 2018 was released earlier this week. This data series replaces the old housing finance and lending finance series and includes some different data. Specifically focusing on lending to households the data shows that the weakening of demand for...
With national dwelling values falling, and falling fastest for premium housing stock, the number of suburbs with a median value at or in excess of $1 million has fallen over the past year.
The top 3 busiest suburbs for auctions this week are in New South Wales where Port Macquarie tops the list with 20 homes scheduled for auction. Lane Cove and Randwick follow with 15 and 12 scheduled auctions respectively.
Auction activity is continuing to ramp up after the seasonal slowdown, with 929 capital city homes taken to auction this week.
Consumer Price Index (CPI) data for the December 2018 quarter was recently released by the Australian Bureau of Statistics (ABS). The data showed that over the quarter, CPI increased by 0.5% to be 1.8% higher over the past year.
The busiest capital city suburbs for auctions this week are in NSW and Vic, where Footscray tops the list with 8 homes set to be auctioned. Manly (NSW) and Craigieburn (Vic) follow closely with 7 scheduled auctions each.
While the housing market has generally seen very weak conditions over the past year, it has been a very different story over the longer term with most cities seeing substantial gains over the past two decades.
The first week of auction reporting for 2019 saw 526 capital city homes taken to auction, this is down almost 34 per cent on the same week last year when 790 auctions were held.
The first month of the New Year has seen a continuation in the broad-based housing market weakness with every capital city apart from Canberra recording a month-on-month fall in dwelling values.
National dwelling values fell by -2.3% in the last three months 2018, and by -4.8% over the 12 months to December 2018: their largest annual decline since April 2009.