With investor activity easing and attractive incentives becoming available in NSW and Vic, there has been a rebound in borrowing by first home buyers over the past year.
The combined capital cities are set to see fewer auctions take place this week, with a total of 1,592 properties scheduled to go under the hammer.
Global data analytics provider CoreLogic has released its first Quarterly Rental Review for 2018, which tracks the median rental price of houses and units across Australian capital cities and regions.
A quarterly analysis produced by CoreLogic on auction market activity showed an increase in the combined capital city auction clearance rate of 64.6 per cent over the March 2018 quarter, up from 62.3 per cent over the December 2017 quarter.
There were 1,890 homes taken to auction across the combined capital cities this week, with preliminary results showing a 64.5 per cent success rate.
CoreLogic’s stratified hedonic home value index shows the most expensive sector of the market is slowing rapidly as has been the case in other recent housing market slowdowns.
Building activity data is released quarterly by the Australian Bureau of Statistics (ABS). The release includes substantial data including dwelling commencements, dwelling completions, dwellings under construction and dwellings approved but not yet commenced construction. It provides a valuable addendum to...
The number of new projects recorded by CoreLogic for the Cordell Construction monthly report over March was 1,707. This is 4.0% higher than in February, and 4.6% lower than the 5 year monthly average of projects. The construction value of new projects captured over the month was $12.8 billion, up from $12.6...
CoreLogic project data is already detecting a shift in construction across New South Wales in response to slower dwelling growth and less activity.
This week, CoreLogic is currently tracking 1,690 capital city auctions, decreasing from the 1,839 auctions held last week. While one year ago a significantly lower 493 auctions were held over what was the Easter period last year.
The Sydney housing market has remained a contentious subject over the past 12 months, with 2017 recording its fair share of ups and downs – depending on your perspective of course, says CoreLogic head of research Tim Lawless.