As lending rates for housing reach a series low, and the millennial cohort hit the typical first home buyer age group of 25-34, more Australians will be keen to make the transition from renting to owning their own home.
Auction activity across the combined capital cities is set to rise, with CoreLogic currently tracking 2,836 scheduled auctions this week. This week’s volumes are expected to be up by 12.7% on last week’s final figures (2,517). One year ago, there were a lower 2,201 auctions held over the same week.
Auction markets are continuing to show strength as both the number of auctions and auction clearance rates trend higher.
The narrative of over-supply and under-performance in Brisbane units has dominated conversations around south-east Queensland property for almost 5 years. At January 2020, Brisbane unit values remain 11.5% below their 2010 peak to be at similar levels to 2007. But the latest data on property values,...
The combined capital cities are expected to see quite a significant rise in the number of homes taken to auction this week, with CoreLogic currently tracking 2,364 scheduled auctions, up from the 1,596 auctions held last week according to final figures.
Auction markets have shown a strong result on higher volumes, with preliminary clearance rates around the 80% mark across the largest auction markets as the number of properties taken to auction tracks well above levels from a year ago.
The Australian Bureau of Statistics (ABS) has released its December 2019 housing finance data. The results reveal a strong uplift in borrowing for property purchases over the month.
The capital city auction market is expected to see a rise in activity this week, with a total of 1,448 homes scheduled to go under the hammer.
With record-high values expected across Australian dwellings in a few months’ time, 2020 will see the fastest market recovery on record with respect to the length of the downswing. And it’s being led by owner-occupiers.
Capital city auction activity ramped up after the seasonal slowdown, with 1,122 homes taken to auction this week, with volumes almost doubling on last week’s 625 auctions held.
While the median property value provides a useful reference point for the ‘typical’ home value in an area, buyers on a tight budget might find it more practical to narrow down their property search by examining lower quartile values.
The 2020 auction market is now in swing, with over 1,000 capital city homes scheduled to go under the hammer this week. CoreLogic are currently tracking an additional 448 auctions compared to final figures last week (625).