There were 1,167 homes scheduled for auction across the combined capital cities this week, down from 1,269 over the previous week, although higher than this time last year (896).
An emerging narrative around regional dwelling markets is that they may see increased demand as a result of COVID-19. Historic migration data sheds some light on how people have moved around Australia, and highlight some mitigating factors to regional demand amid the pandemic.
The number of homes scheduled for auction is expected to remain relatively steady week on week across the combined capital cities, with 1,209 auctions being tracked by CoreLogic this week.
The latest quarterly auction results released today came as no surprise as the nation faced some of the greatest disruptions to usual business practices during this period.
This edition of the Pain and Gain report analyses approximately 72,500 sales that took place over the first quarter of 2020. It highlights how many of these sales made a nominal loss or gain relative to the previous sale.
With Melbourne returning to lockdown conditions amidst an acceleration in virus cases, it’s worthwhile looking back at the housing markets performance through the earlier lockdown period.
Thursday’s lending indicator data from the ABS shows the value of new finance commitments for the purchase of dwellings fell by a record 11.6% over May 2020. This is the largest single monthly drop in the 18 year series.
There were 1,202 homes scheduled for auction across the combined capital cities this week, similar to the previous week (1,224), although higher than this time last year (847).
There are 1,161 capital city auctions being tracked by CoreLogic this week, down from 1,224 auctions last week, but higher than this time last year when 847 homes were taken to auction.
Auction volumes were down week on week across the combined capital cities, with a total of 1,185 homes scheduled for auction.
There are 1,115 capital city auctions being tracked by CoreLogic this week, down from 1,485 auctions last week, but higher than this time last year when 953 homes were taken to auction.
The July CoreLogic index results show the Melbourne property market is the worst capital city performer since the onset of COVID-19. Several cyclical and structural factors may explain why Melbourne in particular has experienced a more rapid decline.