With dwelling values now declining across the nation, in this week’s Property Pulse we take a look at inflation-adjusted (or real) dwelling value changes to the June 2018 quarter.
Although the cash rate hasn’t been adjusted for almost two years, the rhetoric from the RBA continues to be that the next move in rates is likely to be up rather than down.
The combined capital cities are expected to see a lower volume of auctions this week with CoreLogic currently tracking 1,224 auctions, down from 1,536 last week and 1,857 over the same week last year.
The CoreLogic July home value results out today confirmed that national dwelling values continued their weak run, with both capital city and regional dwelling values trending lower over the past three months.
The final week of July returns a preliminary auction clearance rate of 58.4 per cent across the combined capital cities
With capital city dwelling values falling, the market is responding with fewer new listings however, total listings remain elevated compared to other recent years when housing conditions were much stronger.
With the tightening of lending criteria over recent years by lenders there is increasing use of the phrase ‘credit crunch.’ A formal definition of ‘credit crunch’ is inherently loose, however, looking at the data and commentary from the banking regulator APRA, although dwelling values are falling and credit...
The July 2018 edition of the HIA-CoreLogic Residential Land Report provides updated information on lot prices and sales activity in 47 markets across Australia – including six of the capital cities.
The number one top performing suburb for consistent capital growth in Australia is Wallan, Victoria located approximately 45 km from Melbourne, according to new CoreLogic research.
The final week of July will see a total of 1,430 homes taken to auction; a slight increase on the 1,257 auctions held last week as at final figures, although lower than the 1,987 auctions held on the same week last year.
Auction volumes remain low week-on-week while the preliminary clearance rate improves across the combined capital cities
According to the CoreLogic Quarterly Auction Market Review, the combined capital city clearance rate for the June 2018 quarter fell 6.8 per cent to just 57.8 per cent, making it the lowest quarterly result since December 2012 (which was 50.9 per cent).