There were 1,456 auctions held across the combined capital cities this week, significantly lower than the 3,026 held last week, however higher than the 1,197 auctions held one year ago.
There are 52% fewer homes scheduled for auction across the combined capital cities this week, with CoreLogic tracking 1,440 scheduled auctions, after last week saw volumes reach their highest levels since late Nov- Dec last year (3,026).
Auction markets are passing the test of higher volumes with strong results, with volumes reaching similar levels to those seen around the end of last year over the seasonal hype pre slowdown period when clearance rates were tracking around the mid 60% to low 70% range.
Property values have increased in 23 out of 50 separate house and unit markets over the past 12 months to January 2020, according to the latest Quarterly Regional Market Update from CoreLogic. The report analyses property market performance across Australia’s largest non-capital city regions
A rebound in the pace of capital gains across the Australian housing market throughout February saw the national index rise by 1.1% over the month.
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.