Residential Real Estate News

CoreLogic’s Pain and Gain report for the September 2020 quarter released today has revealed Hobart retained its position asthecapital citywith the highest rate of profit making resalesat 96.6%, while regional Victoria was the most profitable ‘rest of state’ region with 97.5% of dwellings sold for a profit in...

Australia’s housing market finished the year on a strong footing with CoreLogic’s national home value index rising a further 1.0% in December; the third consecutive month-on-month rise following a -2.1% drop in dwelling values between April and September.

Last week was the busiest week for auctions the capital city markets have seen since early April, with a total of 2,580 homes taken to market.

In 2020, COVID-19 mildly impacted Australian housing prices, but created volatility in transaction activity. These factors have drawn renewed scrutiny of stamp duty on residential property, and may have influenced some of the timely reform and discounting in stamp duties over the year.

In a year that no one could have predicted, from a deadly global pandemic to our largest economic downturn since the 1930’s, CoreLogic’s Best of the Best 2020 Report released today reveals Australia’s $7.2 trillion residential real estate market proved remarkably resilient.

Auction activity ramped up this week with a total of 2,537 homes taken to auction across the combined capital cities, rising on the 2,085 auctions held last week, however lower than the 2,804 held over the same week last year.

Today CoreLogic releases its latest Quarterly Economic Review which unpacks the recent recovery trend in housing market values observed in the months to November 2020.

The combined capital cities are expected to see auction activity ramp up over the week, with a total of 2,593 properties set to go under the hammer. This week’s scheduled volumes are 24% higher than last week’s final figures which saw 2,085 auctions held. This time last year, a higher 2,804 homes were taken...

This week, 2,065 auctions were held across the combined capital cities, down from 2,168 over the previous week. Of the 1,704 results collected so far, 75.1 per cent have reported a successful result, increasing on last week’s preliminary clearance rate of 73.9 per cent, which revised down to 70.6 per cent at...

CoreLogic November home value indices showed a second consecutive month of property value increases following a COVID-19-induced dip. For the first time since January, every capital city recorded a rise in dwelling values. This was off the back of accommodative monetary policy and fiscal policy, converging...

There are 2,125 auctions scheduled to take place across the combined capital cities this week, down slightly from last week when 2,168 auctions were held. This time last year, a considerably higher 2,912 homes were taken to auction over the same week.

The RBA remains in ‘wait and see’ mode as the earlier heavy lifting on monetary policy flows through to the Australian economy.