CoreLogic auction activity analysis found that over the 3 months to December 2019, the combined capital cities clearance rate came in at 70.3 per cent from 26,923 auctions.
Almost nine in ten (87.4 per cent) property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia.
Earlier this month, the ABS released detailed dwelling approval data to November 2019. Breaking down approved dwellings by local government area (LGA) highlights a concentration of new development in south-east regional and metropolitan centres, and a relatively low level of medium density approvals.
The first home loan deposit scheme (FHLDS) commenced 1st of January 2020. It is a leg-up over the deposit hurdle for first home buyers (FHB) struggling to accumulate a sizeable deposit, providing eligible Australians the opportunity to buy their first home with a deposit of at least 5% of the home’s value.
Dwelling values rose by 1.1% over the month of December and by 4.0% over the quarter to finish out 2019 on a positive note according to the CoreLogic national home value index.
There were 2,750 homes taken to auction across the combined capital cities this week, with volumes down by -5.6% on last week’s 2,912 auctions; the second busiest week of 2019.
Although lagged, the ABS residential property price index provides a reference point and benchmark for the more timely private sector measures of house price growth.
There are 2,737 capital city homes scheduled for auction this week, with volumes expected to be down by only 6% on last week’s final figures (2,912), however, higher than volumes from one year ago (2,406).
There were 2,837 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 74.5 per cent.
This week in the CoreLogic Property Pulse we analyse the performance of Australia’s most expensive property markets -Sydney and Melbourne, and compare them to other the remaining capital cities.
One of the largest regional analysis of its type now available in the market is the CoreLogic Regional Report. Produced quarterly, the regional analysis delivers market insights for houses and units across 25 of Australia’s largest non-capital city regions.
There were over 3,000 capital city homes taken to auction this week, making it the busiest week for auctions we’ve seen this year; in fact the largest number since March last year.