Residential Real Estate News

Combined capital cities record 80% auction clearance rate in March quarter

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.

12 Apr 2021

National home value index rises at its fastest pace in 32 years

CoreLogic’s national home value index recorded a 2.8% rise in March, the fastest rate of appreciation since October 1988 (3.2%).

1 Apr 2021

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Australians continue to choose to move to Victoria

Demographic data from the Australian Bureau of Statistics (ABS) showed that Australia’s estimated resident population was 24,220,192 persons at the end of September 2016. Overt the 12 months to September 2016 the national population increased by 1.5% or by 348,695 persons.

Investors have historically outweighed first home buyers, but the spread in market participation has never been this wide

Over recent years the level of investor participation in the national housing market has hit historic high levels and at the same time, housing finance commitments to owner occupier first time buyers has shrunk.

The investor surge continues at the expense of first home buyers

Housing finance data for January 2017 was released earlier today by the Australian Bureau of Statistics (ABS). The data showed the over the month there was $33.9 billion in housing finance commitments which was 1.5% higher than the previous month.

Deteriorating housing affordability in Sydney and Melbourne due to both demand and supply

Housing affordability is becoming a very hot political topic at the moment and it is no wonder why. When we look at the latest CoreLogic Home Value Index results for February 2017, they show that combined capital city home values increased by 1.4% taking them 11.7% higher over the past year.

New house approvals now start to fade

Building approvals data for January 2017 was released earlier today by the Australian Bureau of Statistics. According to the release there were 17,412 dwellings approved for construction over the month which was 1.8% higher over the month but -12.0% lower year-on-year.

Capital city vacant land selling prices continue to rise as prices fall in regional Australia

The median selling price of vacant land continued to climb in capital city markets throughout 2016 while in regional areas prices have fallen. The other big shift over the past 12 months has been the fairly significant increase in lot sizes after they have trended lower over many years.

Tourism boom: Short-term arrivals to Australia continue to grow at a faster pace than short-term departures, providing good news for the tourism sector

Earlier today the Australian Bureau of Statistics released overseas arrivals and departures data for December 2016. The data is important because it provides insight around how many people are coming to and leaving from Australia.

Mortgage demand for established housing stock continues to climb

Housing finance data for December 2016 was released earlier today by the Australian Bureau of Statistics. Demand for mortgage finance continues to increase over the month reflective of the ongoing growth in home values currently being experienced. Unlike the rest of the charts throughout this post, the above...

Since 2008 only four capital cities have recorded real growth in home values

With the Australian Bureau of Statistics releasing the Consumer Price Index for the December 2016 quarter recently, using the CoreLogic Home Value Index we can adjust changes in dwelling values for the effects of inflation.

New lending to investors in New South Wales has accounted for more than half of all new lending for 42 of the past 48 months

The Australian Bureau of Statistics (ABS) released lending finance data earlier today and when it is paired with the earlier housing finance data release, the figures provide insight into the value of mortgage lending over the month in each state and territory.

Has developer confidence taken a hit as dwelling commencements sag?

Building Activity data for September 2016 was released earlier today by the Bureau of Statistics. While this is not one of the major economic releases each quarter, it does include a lot of really important data relating to housing construction.

Dwelling approvals bounce in November but don’t expect it to continue

According to the Australian Bureau of Statistics (ABS) November 2016 building approvals data there were 17,569 houses and units approved for construction across the country over the month. Based on the seasonally adjusted series, the number of dwelling approvals rose by 7.0% over the month due to a...

Stock levels remain well below average across the hot housing markets, but are close to record levels in Perth and Darwin.

With the spring ‘selling season’ done and dusted and Christmas rapidly approaching, it is worthwhile having a look at how stock levels have tracked over the season and year relative to previous years.