The latest data from the Reserve Bank (RBA) shows that the expansion of housing credit is occurring at a historically sluggish pace as tighter credit policies and slower housing market conditions dampen investment participation in the housing market.
Headline capital city value change figures only tell part of the story, more detailed insights can be seen by observing changes in dwelling values across smaller geographies.
There are fewer auctions scheduled across the combined capital cities this week, after last week saw volumes reach their highest level so far this year (3,313).
According to the CoreLogic Home Value Index results out today, dwelling values edged lower across most capital cities over the month, with broad based falls weighing down dwelling values nationally for the fifth consecutive month.
Auction volumes surge past 3,000 for the first time this year returning a strong preliminary auction clearance rate of 70.5 per cent.
In this week’s Property Pulse we take a look at the housing cycle over the past two decades focusing on growth throughout the regions in five year increments.
Although dwelling values have started falling in Sydney, the city remains substantially more expensive than the other capital cities. In fact, whether you look at the cost of houses or the cost of units, Sydney stands out as being much more expensive.
This week, CoreLogic is currently tracking 3,017 capital city auctions, increasing from the 1,992 auctions held last week.
As auction volumes return to more normal levels after the festive period slowdown, auction clearance rates are holding higher than late 2017.
The volume of new loans to first home buyers in New South Wales and Victoria has climbed substantially over recent months as value growth has slowed and even begun to fall in Sydney and Melbourne. First home buyers must be vigilant about purchasing homes and not just be lured into buying at the peak of the...
Value growth over the past decade has been characterised by substantial value rises in Sydney and Melbourne while elsewhere capital gains have been materially lower, in fact negative in some regions.