The May CoreLogic home value index results out today confirm that national dwelling values dipped by 0.1% over the month, fueled by weaker conditions in Melbourne and Sydney while regional dwelling values continued to tick higher.
CoreLogic is tracking 2,121 capital city auctions this week, down slightly on last week’s 2,297 auctions held, with weekly volumes remaining relatively steady over past month while the weighted average clearance rate has continued to weaken.
In this week’s Property Pulse we check-in on the regional areas of the country and look at how values have increased over the past year and where they sit relative to previous peaks.
Australia’s premium housing market has softened more than its more affordable segment, according to the latest CoreLogic Decile Report.
In this week’s Property Pulse we look at each capital city across the country and compare how close to the city you can get where units typically cost under $500,000.
This week marks 12 months since the combined capital city auction market last recorded a clearance rate above 70 per cent, with selling conditions progressively weakening over the year as property values fall resulting in fewer homes selling at auction.
In a recent letter to all Australian authorised deposit-taking institutions (ADIs) entitled ‘Embedding Sound Residential Lending Practices,’ APRA indicated that lenders need to limit lending at very high debt to income levels.
Auction activity across the combined capital cities is set to remain relatively steady this week, with CoreLogic currently tracking 2,164 auctions, increasing slightly on last week’s final figures which saw 2,100 auctions held.
There were 2,089 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 60.3 per cent.
In this week’s Property Pulse we look at each capital city across the country and compare how close to the city you can get where houses typically cost under $500,000.
With the latest release of lending finance data from the Australian Bureau of Statistics, we can now analyse the value of mortgage lending across each of the states and territories up until March 2018.
Following on from what CoreLogic commercial research analyst Eliza Owen describes as “a relatively subdued quarter of activity in Q1 2018”, the number of projects moving into construction surged over April.