This week, CoreLogic is tracking just over 2,300 auctions across the combined capital cities, which is similar to last week when 2,318 auctions were held, but lower than this time last year, when 2,443 homes were taken to auction.
Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown.
In this week’s blog we look at the historic relationship between housing market growth in Sydney and Brisbane in order to determine whether the slowdown in Sydney could translate into an acceleration in Brisbane.
Each quarter the Reserve Bank (RBA) publishes household finances data which look at the ratio of household debts and assets to disposable income. The latest data shows households are becoming more indebted at the same time as the value of their assets are increasing.
The number of homes scheduled to go auction this week is set to rise across the combined capital cities; after last week’s public holiday and grand final slowdown, with 2,118 currently scheduled to take place, which is over double the volumes seen last week when only 969 auctions were held.
Consistent with current industry predictions, the RBA has decided to keep the official cash rate at the record low of 1.50 per cent. CoreLogic head of research Tim Lawless comments.
The combined capital cities saw significantly fewer auctions this week, with a total of 953 auctions held; the lower activity a result of most states being host to a long weekend as well as both the AFL and NRL grand finals taking place
The latest demographic data release from the Australian Bureau of Statistics (ABS) shows a big jump in net overseas migration over the first quarter of 2017.
Auction activity across the combined capital cities is set to be quite subdued this week, with half the nation host to an upcoming public holiday; combined with both the NRL and AFL grand finals being held over the weekend, it looks to be a quiet week for the auction markets.
Auction volumes increase across all but one of the capital cities this week, returning a preliminary clearance rate of 70.7 per cent across 2,759 auctions.
Australia’s economy increased 0.8% in the June quarter, according to seasonally adjusted, chain volume measures released Wednesday. This brings annual GDP growth to 1.8% at the end of June. But aggregate growth figures mask one of the longest declines in private sector, gross capital formation in Australia’s...
The number of properties scheduled to go to auction this week is expected to surpass last week as the busiest week for auctions since June, with CoreLogic currently tracking 2,592 auctions across the combined capital cities, up from last week when final results saw 2,510 auctions held.