A quiet week for auctions with 803 homes taken to market across the combined capital cities, as most states welcomed a long weekend with the Queen’s Birthday public holiday on Monday.
Australia’s average housing affordability is the best it has been since 2016 with property in some cities and regions the most attainable it has been in decades, according to new ANZ-CoreLogic research.
With national dwelling values continuing to decline throughout 2018 and well into 2019, resulting in lower market confidence and fewer homes transacting, it’s important to understand the impact of this not only from the perspective of buyers and vendors but all industry participants.
This week, Ipswich in Brisbane will see 41 units go up for individual auction, making it the busiest suburb for auctions this week across the capital cities.
There were 1,654 homes taken to auction across the combined capital cities coming into the first week of Winter, down from the 2,055 homes auctioned last week.
The CoreLogic May 2019 home value index results out today showed national dwelling values were down 0.4% over the month; the smallest month-on-month fall in a year.
In this week’s Property Pulse we look at the housing market performance across the 148 regional SA3 housing markets, analyzing growth over the past year and the change in dwelling values relative to the market peak.
There were 2,041 homes taken to auction across the combined capital cities this week after the previous week saw volumes drop to 930, likely due to the federal election. This time last year, volumes were higher with 2,297 auctions held.
This week, all of the busiest suburbs for auctions are in Victoria. Topping the list with 21 homes scheduled for auction is Reservoir, followed by Bentleigh and Brighton with 15 and 13 scheduled auctions respectively.
With the national housing market moving through its down phase and buyer numbers thin on the ground, properties are taking longer to sell as vendors face stiff competition and purchasers take their time to negotiate the best possible price.
There were fewer homes taken to auction across the combined capital cities this week, as the nation stopped amidst the Federal election hype.
All of the busiest suburbs for auctions this week are in Victoria, with Bentleigh East, Brighton and Malvern East all topping the list with 8 homes set to go under the hammer each, followed by Glen Iris with 7 scheduled auctions.