This week 2,742 homes were taken to auction across the combined capital cities, only slightly higher than the 2,701 auctions held last week.
The release today of the CoreLogic November hedonic home value index results confirmed that national dwelling values slipped by 0.7% over the month, led by Sydney where the drop was double the national average.
Earlier today the Reserve Bank (RBA) released its financial aggregates data for October 2018. The housing credit data is of particular interest. It covers data from all local mortgage lenders and measures the value of mortgages outstanding. The data is important because it highlights the expansion or...
CoreLogic Australia’s latest ‘Mapping the Market’ report has just been released, using location analytics and geospatial expertise to give a visual understanding of Australia’s property market.
This week, all of the busiest suburbs for auctions are in Victoria, topping the list with 25 scheduled auctions is Glen Waverley, followed by Glen Iris (18) and Reservoir (17), while Bentleigh East and St Kilda each have 16 auctions scheduled.
A newly released CoreLogic report focusing on Australia’s property market performance in larger regions outside of the capitals has found the Geelong region recorded the largest annual increase in median values for both houses and units.
There were 2,689 homes taken to auction over the week, down from the previous week when 2,745 auctions were held, and much lower than this week last year when 3,438 auctions were held across the combined capital cities.
The volume of housing stock listed for sale is currently higher, for this time of year, than it has been in many years. Data suggests that it isn’t a dumping of stock onto the market which is leading to a lift in total listings, rather the fact there are fewer buyers and sales are taking longer to achieve.
Four of the five busiest suburbs for auctions are in Victoria this week. Preston tops the list with 18 homes scheduled for auction, followed by Northcote (17) and Epping (16). While Manly in NSW and Glen Waverley (Vic) will each host 15 auctions.
Although nationally dwelling values have now fallen by -3.5% from their peak with much larger falls in Sydney, Melbourne, Perth and Darwin, the reality is there has been very little improvement in housing affordability.
Preliminary results show a clearance rate of 45.5 per cent this week, compared to 43.3 per cent last week, while one year ago, a final clearance rate of 60.9 per cent was recorded. As final results are collected we will likely see the clearance rate revise down below 45 per cent for the third consecutive...
This week’s Property Pulse looks at property sales over the past 12 years and compares them to the original advertised price to see if they sell for more, less or the same as that price and whether these trends are changing.