Residential Real Estate News

Busiest auction week across the combined capitals in CoreLogic history

The volume of scheduled auctions is set to reach new highs across Sydney, Canberra and Adelaide this week, marking the busiest auction week for the combined capitals since CoreLogic records commenced in 2008.

24 Nov 2021

How much has house price growth outstripped growth in wages?

This month, the ABS posted a 2.2% annual increase in the Australian wage price index, which represents wages growth getting back to pre-pandemic levels. Comparing the wage price index with property values for the past two decades shows that nominal dwelling value growth has vastly outstripped the total change in wages and salaries. Eliza Owen explores.

19 Nov 2021

More

Melbourne withdrawals continue to impact heavily on the combined capital city clearance rate

Auction volumes increased week-on-week with 2,245 homes taken to auction across the combined capital cities this week, up from 1,764 over the previous week and 1,128 this time last year. Of the 1,683 results collected so far, 55.4 per cent were successful making it the lowest preliminary clearance rate...

National Auction Market Preview - 29 August 2021

There are 2,367 capital city homes currently scheduled to go under the hammer this week, although as usual we may see some downwards revision in the actual number of homes taken to auction amidst ongoing lockdowns and restrictions. Over the previous week, 1,764 auctions were held across the combined capital...

Surge in Melbourne auction withdrawals sees combined capital city preliminary clearance rate drop to lowest level since late July 2020

There were 1,977 homes taken to auction across the combined capital cities this week, revising down from the 2,106 originally expected as a number of vendors reschedule to a later date. The previous week saw a lower 1,822 homes taken to auction across the combined capitals, while there were 1,064 auctions...

National Auction Market Preview - 22 August 2021

There are 2,106 capital city homes currently scheduled to go under the hammer this week, although we may see some downwards revision in the actual number of homes taken to auction amidst ongoing lockdowns and restrictions. Over the previous week, 1,822 auctions were held across the combined capital cities,...

What does Spring selling season look like in lockdown?

Less than two weeks out from the spring selling season of 2021, lockdown conditions are in place across the ACT, Greater Melbourne and NSW. More recently, major centres across the Northern Territory have been plunged into a snap lockdown. In the decade prior to COVID-19, sales and listings volumes would...

Building demand drives 1.4% quarterly increase in Australia’s housing construction costs

CoreLogic’s national measure of residential construction costs show an increase of 1.4% in the three months to June 2021, outpacing the Consumer Price Index of 0.8% for the same period.

Auction clearance rates dragged lower as the three most popular auction markets navigate lockdowns

There were 1,918 homes taken to auction across the combined capital cities this week, up from 1,606 over the previous week, although lower than the 2,139 originally expected due to a larger number of auctions postponed to a later date. Over the same week last year, 1,046 auctions were held across the combined...

Australia’s dwelling sales to new listings ratio hits an average of 1.4 in the three months to July

As dwelling sales continue to surge across Australia against low listings levels, CoreLogic estimates in the three months to July there were around 171,100 sales. This is 53.4% higher than the five year average. In the same period, there were just 121,200 new listings, which has lifted the ‘sales to new...

National Auction Market Preview - 15 August 2021

Auction markets see reduced activity due to lockdowns, but the preliminary clearance rate holds above 75% across the combined capitals.

Auction volumes and the combined capital city preliminary clearance rate fell week-on-week with 1,672 auctions held and a success rate of 76.4%. This comes as Melbourne announces a 7-day snap lockdown resulting in the 3 largest capital cities now being in lockdown. Last week, a preliminary auction clearance...

National Auction Market Preview - 8 August 2021

RBA holds on monetary policy despite COVID-induced disruption to economic recovery

Given the heightened level of uncertainty from recent COVID outbreaks and subsequent lockdowns, the RBA has acknowledged Australia’s economy is likely to move into reverse through the September quarter, along with an increase in unemployment.

Combined capital city preliminary auction clearance rate rises as volumes remain steady

There were 2,077 homes originally scheduled to go to auction this week across the combined capital cities, however this has revised down to 1,806 auctions as a portion are rescheduled to a later date. Of the 1,466 results collected so far, which equates to an 81.2% preliminary collection rate, 79.2% were sold...