This week the combined capital city preliminary clearance rate saw a slight improvement compared with last week, as the number of auctions held continued to bounce back from the Easter slowdown. There were 2,448 homes taken to auction this week, returning a preliminary auction clearance rate of 80.5%.
One of the most prominent trends in Australian housing markets over the past 12 months has been the deterioration of rents in inner city apartment markets across Sydney and Melbourne. While these markets are far from recovery, there are signs that conditions may be stabilising, particularly across Sydney.
Auction volumes are expected to rise across the combined capital cities this week with CoreLogic currently tracking 2,496 auctions, up from last week’s 2,199 and last year’s 1,922 auctions held.
Comparing current capital city values with previous peaks adds some perspective to the current housing market upswing – particularly in Perth and Darwin, where values remain substantially below their record highs from 2014. It also highlights the very different dynamics across capital cities – such as in the...
Auction volumes rose across the combined capital cities this week with 2,170 homes taken to auction, increasing on the 845 auctions held over the Easter week.
CoreLogic’s Quarterly Auction Market Review released today revealed Australia’s combined capital cities clearance rate reached 80.0% over the first quarter of 2021, up from 69.4% in the December 2020 quarter and 62.5% in the March quarter of 2020.
This week, the number of capital city homes scheduled to go to auction is set to rise with 2,207 auctions currently being tracked by CoreLogic.
With the cash rate likely to remain on hold for an extended period of time, attention is more focussed on other elements of the RBA’s monetary policy settings and their perspective on the economy, including housing market conditions.
CoreLogic’s national home value index recorded a 2.8% rise in March, the fastest rate of appreciation since October 1988 (3.2%).
There are 878 capital city homes set to go to auction over what will be the Easter weekend, which is higher than the week of Easter last year when 634 auctions took place. This week’s lower scheduled volumes comes off the back of the busiest week for auctions we have seen since March 2018 last week (3,840).
CoreLogic has released its quarterly ‘Pain and Gain’ report for the December quarter, which analyses the proportion of dwelling resales that made a nominal gain (or loss) relative to the previous purchase price. The latest analysis was based on 98,000 sales through the December quarter, where CoreLogic...
There were 3,791 homes taken to auction across the combined capital cities this week, the busiest auction week since the week ending 25th March 2018 when 3,990 capital city homes were taken to auction. In comparison, last week saw 2,710 auctions held across the combined capitals, while at the same time last...