CoreLogic recently released the June 2017 Mapping the Market Report. The report looks at how the cost of housing has shifted across Australia’s capital cities by suburbs over the past five years by comparing thematic maps which show suburb median values.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate was recorded at 69.9 per cent.
The consumer price index (CPI) for June 2017 was released earlier this week showed that over the quarter headline inflation was recorded at 0.2% which took inflation to just 1.9% over the year to June 2017.
Auction volumes are set to remain steady for another week, with 1,787 properties scheduled to go to auction this week across the combined capital cities.
The combined capital city preliminary clearance rate increased to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.
Newly released Census data highlights the rapid densification of Melbourne’s CBD where the number of residents per square kilometre has more than doubled over the past decade.
Auction activity across the combined capital cities is set to remain somewhat steady this week, with 1,581 properties scheduled to go to auction, decreasing slightly when compared to last week’s 1,627 auctions and higher than the 1,329 auctions held over the same week last year.
The number of homes taken to auction across the capital cities has fallen for the 4th week in a row, with just 1,612 auctions held this week, down from 1,766 last week, although higher than this time last year when 1,391 properties went under the hammer.
This week, CoreLogic is currently tracking 1,477 auctions across the combined capital cities, and it is expected that the number of properties scheduled to go under the hammer this week will be lower than the 1,766 auctions held last week, however higher than the 1,391 auctions held over the corresponding...
The combined capital city preliminary clearance rate increased to 70.7 per cent this week, up from 67.3 per cent last week, while auction volumes fell week-on-week.
With dwelling values rising at a faster pace than household incomes, housing affordability has worsened over the first quarter of 2017. CoreLogic measures housing affordability across four measures and three of these four measures have seen affordability deteriorate over the quarter.
Auction activity across the combined capital cities will be slightly subdued this week, with 1,588 auctions currently being tracked by CoreLogic, down from last week’s final result of 2,001 auctions held.