Dwelling values rose by 1.1% over the month of December and by 4.0% over the quarter to finish out 2019 on a positive note according to the CoreLogic national home value index.
There were 2,750 homes taken to auction across the combined capital cities this week, with volumes down by -5.6% on last week’s 2,912 auctions; the second busiest week of 2019.
Although lagged, the ABS residential property price index provides a reference point and benchmark for the more timely private sector measures of house price growth.
There are 2,737 capital city homes scheduled for auction this week, with volumes expected to be down by only 6% on last week’s final figures (2,912), however, higher than volumes from one year ago (2,406).
There were 2,837 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 74.5 per cent.
This week in the CoreLogic Property Pulse we analyse the performance of Australia’s most expensive property markets -Sydney and Melbourne, and compare them to other the remaining capital cities.
One of the largest regional analysis of its type now available in the market is the CoreLogic Regional Report. Produced quarterly, the regional analysis delivers market insights for houses and units across 25 of Australia’s largest non-capital city regions.
There were over 3,000 capital city homes taken to auction this week, making it the busiest week for auctions we’ve seen this year; in fact the largest number since March last year.
The number of residential properties advertised for sale this spring has been lower than last year across every capital city due to both less fresh stock being added to the market together with a rise in buyer activity.
CoreLogic’s national Home Value Index surged 1.7% higher over the month and delivered the fifth consecutive monthly increase, coupled with the largest monthly gain in the national index since 2003.
Financial institutions are consistently trying to win new share. There is a struggle to differentiate, when the key lever is always price.
The combined capital cities are set to see the busiest week for auctions this year, with 2,774 homes scheduled to go under the hammer, higher than last week’s 2,612 auctions held and the 2,749 recorded last year.