Earlier this week the Sydney Morning Herald ran an article entitled Scott Morrison urges retirees to ‘free up larger homes for younger families.’ The logic seemed sound but what’s in it for the retirees to do this?
The number of auctions scheduled across the combined capital cities this week is expected to see a slight fall, with 1,878 properties scheduled to go under the hammer, after last week saw volumes reach their highest levels since June (2,040).
Auction volumes rise to highest level in six weeks while preliminary clearance rates hold firm in the low 70 per cent range
According to the latest housing finance data released by the Australian Bureau of Statistics, demand from the investor segment increased slightly in June 2017 while owner occupier mortgage demand was steady over the month.
There are 1,867 capital city auctions currently being tracked by CoreLogic, with volumes set to be higher than what was seen one year ago (1,471).
The first week of August saw fewer auctions held across the combined capital cities, with 1,846 held, down from the 1,987 auctions held the previous week.
The first week of August will see fewer scheduled auctions across the combined capital cities when compared to the week prior, with CoreLogic currently tracking 1,707 auctions this week, decreasing from last week’s final results which saw 1,987 capital city auctions held.
CoreLogic recently released the June 2017 Mapping the Market Report. The report looks at how the cost of housing has shifted across Australia’s capital cities by suburbs over the past five years by comparing thematic maps which show suburb median values.
The combined capital city preliminary clearance rate was recorded at 70.7 per cent this week, up slightly from last week, when the final clearance rate was recorded at 69.9 per cent.
Auction volumes are set to remain steady for another week, with 1,787 properties scheduled to go to auction this week across the combined capital cities.
The combined capital city preliminary clearance rate increased to 74.8 per cent this week, up from a revised final clearance rate of 69.4 per cent last week, while auction volumes increased week-on-week.