Earlier this month CoreLogic released their October 2017 home value index results, in this week’s Pulse we focus on what these results look like across the regional housing markets.
The total value of housing finance commitments in September 2017 was $32.5 billion according to new data from the Australian Bureau of Statistics (ABS).
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 2,714 currently being tracked by CoreLogic, increasing from the 2,046 auctions held last week and lower than results from one year ago (2,897).
A slowdown in housing market conditions has helped to alleviate some of the pressure to raise the cash rate
There were significantly fewer homes taken to auction across the combined capital cities this week, after last week saw volumes reach a year-to-date high (3,713).
Dwelling approvals have fallen from their highs of recent years and been fairly steady over recent months however, in September 2017 the number of dwellings approved for construction increased on the back of a jump in unit approvals.
This week, there are fewer auctions scheduled to take place across the combined capital cities, with 1,862 currently being tracked by CoreLogic, this is half the volume of auctions recorded last week when the combined capitals saw the highest volume of auctions recorded since late 2015 (3,713)
Preliminary clearance rates hold firm as volumes across the combined capital cities reach their highest level year-to-date and Melbourne records its busiest auction week on record
CoreLogic is currently tracking 2,276 auctions across the combined capital cities this week, down from 2,525 last week.
The combined capital cities returned a preliminary auction clearance rate of 69.4 per cent this week, marking the 21st consecutive week where the clearance rate has held below 70 per cent.
The latest data from the Australian Bureau of Statistics (ABS) shows that there has been a rebound in owner occupier first home buyer housing finance commitments.
CoreLogic is currently tracking 2,276 auctions across the combined capital cities this week, down from 2,525 last week. Over the same week last year, 2,680 auctions were held.
There were 2,497 auctions held across the combined capital cities this week, up from 2,318 last week. So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 per cent, increasing from last week when the final clearance rate slipped to 64.4 per cent, the lowest...