It’s expected to be a relatively quiet week for auctions across the combined capital cities, with 1,100 homes scheduled to go under the hammer this week, down from the 1,411 auctions held last week, auction volumes have trended lower over each of the last 4 weeks.
The latest housing credit data released by the Reserve Bank showed that the expansion of housing credit continued to slow in May 2018.
The combined capital cities saw fewer homes taken to auction this week with a total of 1,400 held, down from the prior week when 1,671 auctions took place.
In this week’s Pulse we delve into how national housing markets have performed in terms of value growth in the 2017-18 financial year and how it stacks up against previous years.
A myriad of ‘push’ and ‘pull’ factors, whether they be regulatory, monetary or fiscal, affect foreign acquisition of Australian assets.
Rents are rising across Australia but at a slower pace than they were 12 months ago, according to the latest Quarterly Rental Review by CoreLogic.
The combined capital cities are set to see fewer auctions take place this week, with a total of 1,323 properties scheduled to go under the hammer.
According to CoreLogic’s hedonic home value index Australian dwelling values fell for the ninth consecutive month in June, taking national dwelling values 1.3% below their September 2017 peak.
The last week of June saw fewer homes taken to auction, with 1,669 auctions held across the combined capital cities, down from the 1,849 held over the week prior.
Dwelling values are falling and fewer transactions are occurring across the housing market which should create alarms for market participants such as agent, lenders, state governments and brokers that are reliant on housing turnover.
Almost 90% of individual residential properties re-sold in Australia during the March 2018 quarter attracted a gross profit, with vendors pocketing a total of $14.819 billion - the majority of which was generated in Sydney and Melbourne.