By Kaytlin Ezzy, Economist, CoreLogic Australia With 2,387 auctions held over the week, last week was the busiest for homes going under the hammer since the week prior to Easter, when 3,519 auctions were held. Last week’s auction volume was up 13% on the week prior and was the fifth busiest week so far this year. The number of auctions scheduled for this week is set to rise … Continue reading Capitals host busiest auction week since March

In CoreLogic’s Housing Chart Pack, the September ‘Chart of the Month’ takes a granular look at value falls over the three months to August, with almost 30% of the 3,655 suburbs analysed across Australia in decline. Melbourne (79.1%) and regional Victorian suburbs (73.8%) made up the majority of falls over the quarter. Values also decreased across more than half of the suburbs in Hobart (54.3%), … Continue reading Almost 30% of suburbs have seen values fall over the quarter

By Caitlin Fono, Research Analyst, CoreLogic Australia Auction markets moved through a fourth consecutive week where more than 2,000 homes went under the hammer, with a preliminary auction clearance rate of 71.7%, up from 70.2% the week prior (revised down to 64.4% on finalised numbers). The preliminary clearance rate has held up amid the rise in auction volume and despite a broader rise in advertised stock levels and … Continue reading Preliminary clearance rate holds up amid rising auction volumes

By Caitlin Fono, Research Analyst, CoreLogic Australia The last week of winter saw 2,252 auctions held across the capital cities, the highest volume of properties going under the hammer since the first week of June, book-ending the cooler months. This week is set to see a similar volume of auctions held before ramping up to around 2,400 through the second week of spring. The preliminary auction clearance … Continue reading Melbourne auction volumes rise above 1,000 for the first time since mid-June

By Caitlin Fono, Research Analyst, CoreLogic Australia The combined capitals preliminary auction clearance rate nudged a little higher last week, reaching 71.4%, the highest early clearance rate since the last week of July.  The result was 70 basis points higher than the previous week (70.7%), which later revised down to 64.8%. The volume of capital city auctions has been rising, with 2,052 homes going under the hammer … Continue reading Auction activity on the rise in the lead up to spring

Regional property markets are experiencing a slowdown in value growth as affordability constraints, normalising listing levels, and the elevated interest rate environment continue to impact growth, according to CoreLogic’s Regional Market Update. Regional markets saw dwelling values increase by 1.3% over the three months to July, compared to a 1.8% rise in capital cities. CoreLogic Australia Economist, Kaytlin Ezzy, said the pace of growth has eased from recent peaks … Continue reading Regional value growth slows amid affordability constraints and elevated interest rates

By Caitlin Fono, Research Analyst, CoreLogic Australia There are 2,043 capital city homes currently scheduled for auction this week, up 8.0% from last week (1,891) and just 0.3% higher than the same week last year (2,037). If all of these auctions go ahead, it will be the busiest auction week since 23rd June (2,150). Melbourne is set to be the busiest auction market, with 858 homes currently … Continue reading Auction activity expected to rise above 2,000 for the first time since late June

Regional towns and diverse housing types must be part of Australia’s affordable housing solution, award-winning urban planners say. It follows the NSW Government’s announcement that more housing density will come to Sydney’s transit areas to deliver much-needed entry-level mid-rise dwellings1 – particularly as the city recently climbed to a new median house price peak of $1.6 million2.   Sam George is Principal and urban planner at Hatch – a global multidisciplinary leader in planning, urban design, engineering, … Continue reading Urban planners advocate for more regional centres and housing diversity

Commentary by Tim Lawless, Research Director at CoreLogic Asia Pacific The easing in the trimmed mean rate of inflation, soft economic growth and a gradual loosening in labour markets has been enough to stave off another rate hike, with the RBA’s board deciding to keep the cash rate steady at 4.35%, where it has held since November last year.  With the quarterly rate of core … Continue reading RBA hold decision unlikely to boost housing demand