When discussing housing affordability older Australian tend to point to much higher interest rates in the past as being a challenge while for younger Australians, higher property values are seen as the biggest barrier to home ownership.
The SA4 index data shows some early signs of improving housing market conditions, largely in Sydney and Melbourne and largely in some of the areas in which values have recorded comparatively large falls.
The CoreLogic August home value index results showed that national dwelling values increased by 0.8% over the month; the first monthly increase in values since October 2017 and the largest monthly increase since April 2017.
Auction volumes are set to increase across the combined capital cities this week with CoreLogic currently tracking just over 1,500 auctions, up from 1,415 last week. Over the same week last year 1,748 homes were taken to auction across the capitals.
The number of homes taken to auction across the combined capital cities increased to 1,412 this week returning a preliminary clearance rate of 79.6 per cent.
The national housing market has just experienced its largest downturn in dwelling values since at least the 1980s. The fact that values nationally fell by less than 10% speaks to the ongoing strength of the housing market over the past 40 years which has culminated in Australia being one of the most...
This week, 1,320 capital city auctions are currently being tracked by CoreLogic, up from the 1,228 auctions held last week at final results.
There were 1,221 homes taken to auction across the combined capital cities this week returning a preliminary clearance rate of 76.6 per cent, while the previous week saw 1,111 homes taken to auction returning a final clearance rate of 67.8 per cent.
The busiest individual suburb for auctions this week is Glen Waverley in Vic, with 12 homes set to go under the hammer, following closely with 11 scheduled auctions each is Glen Iris and Preston (Vic).
Throughout the 2018-19 financial year, 26.0% of all houses sold nationally were under $400,000 and 32.5% of all unit sales were under $400,000.
There were 1,107 capital city homes taken to auction this week, virtually unchanged from last week when final results saw 1,108 auctions held.
This week, there are 11 homes scheduled for auction in Glen Waverley (Vic), making it the busiest capital city suburb for auctions.