Auction activity is expected to remain relatively steady week-on-week across the combined capital cities, with CoreLogic currently tracking 2,439 auctions this week. Last week, 2,412 capital city homes were taken to auction and one year ago a higher 2,745 auctions were held.
The New Zealand financial landscape is changing. The concentration on compliance and responsible lending is pivoting institutions away from simply fighting for home loans to increase market share and profitability.
The overhead of delivering better consumer experiences, shorter and lower cost turnaround times whilst dealing with the raft of increasingly stringent regulatory requirements is making the mortgage lending space feel more frenetic than ever before.
Housing affordability peaked in June and property prices could reach record highs in the first half of 2020 if they continue at current rates, according to new ANZ and CoreLogic research.
There were 2,375 homes taken to auction across the combined capital cities this week, up from 1,555 over the previous week.
With many of Australia’s capital city housing markets posting a gain in values over the past three months, a recovery trend is looking increasingly entrenched… but how long will it take for residential property values to reach a new record high if the current rate of growth continues?
The number of homes scheduled for auction this week is expected to rise, with 2,257 auctions currently being tracked by CoreLogic, increasing from the 1,555 auctions held last week, although lower than results from one year ago (2,386).
Considering the RBA is running out of conventional monetary policy ammunition, the decision to hold the cash rate at the historic low of 0.75% was widely anticipated. The decision to keep rates on hold was supported by the latest labour market and inflation readings, which saw the national unemployment rate...
This week, there were 41.5% fewer homes taken to auction across the combined capital cities with activity significantly lower across Melbourne as the city is brought to a halt amidst the Spring Racing Carnival.
The CoreLogic Home Value Index results for October out today confirm a 1.2% rise in national dwelling values over the month, delivering the fourth straight month of rising values.
Despite a range of factor supporting first home buyer demand, including grants, stamp duty exemptions and improved housing affordability, there is a strong chance first time buyer numbers will start to drift lower as housing prices rise and investors become more active.
There are 1,433 capital city homes scheduled for auction this week, with volumes down 45% on last week’s 2,622 auctions held, which was the busiest week for auctions we’ve seen since December last year.