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.
This week, there were 2,610 homes taken to auction across the combined capital cities with volumes up 33.5 per cent on last week to come in as the busiest week for auctions since early December 2018.
While the median, or 50th percentile, provides a reasonable indication of the ‘typical’ value of a property in an area, the 98th percentile provides a guide about the top two percent of the market based on value.
Auction activity is set to rise across the combined capital cities this week with 2,436 homes scheduled to go under the hammer, making it the busiest week for auctions so far this year. In comparison, there were 1,955 homes taken to auction over the previous week, while this time last year, a higher 2,928...
Rising home values, low mortgage rates and comparatively attractive rental yields are bringing investors back into the housing market. Despite the bounce in investment activity since June, investors still comprise a relatively small proportion of housing activity.
There are 1,828 capital city homes set to go under the hammer this week, down on last week’s 2,022 and last year’s 2,139 auctions held as at final figures.