By Eliza Owen, Head of Research, CoreLogic Australia Tenancy reform is making headlines this week after the NSW government announced a ban on ‘no grounds’ evictions. One fear associated with tipping these reforms is that landlords could exit the market, and new investors may be dissuaded from purchasing property, thus reducing rental supply and pushing up rents. But does tenancy reform actually deter investor activity? Dynamics … Continue reading Does tenancy reform ‘spook’ investors?

By Caitlin Fono, Research Analyst, CoreLogic Australia There are 1,508 capital city homes currently scheduled for auction this week, down -15.1% from last week (1,776) and just -2.0% lower than this time last year (1,539). Melbourne is set to see 622 homes taken to auction this week, down -7.0% from last week (669) and -4.3% lower than this time last year (650). There are 573 auctions … Continue reading Just over 1,500 capital city homes set for auction

By Caitlin Fono, Research Analyst, CoreLogic Australia The preliminary auction clearance rate stepped higher last week, rising to 74.7%, the highest early result since the first week of April (75.9%). Both of the major auction markets recorded a rise in the preliminary clearance rate.  In Sydney, 76.7% of auctions have returned a successful result so far, up 4.7 percentage points from the prior week and the … Continue reading Improvement in preliminary clearance rate over first week of July

By Caitlin Fono, Research Analyst, CoreLogic Australia There are 1,790 capital city homes currently scheduled for auction this week, down -11.8% from last week when 2,030 auctions were held. Over the same week last year, 1,428 homes were taken to auction across the combined capitals. This is just the second time since the beginning of May that auction activity has fallen below 2,000. Melbourne is set to … Continue reading Combined capital city auction activity slips below 2,000

By Caitlin Fono, Research Analyst, CoreLogic Australia Both the volume of auctions and preliminary clearance rates fell in the last week of the financial year, with the number of auctions held recorded at 2,001, down from 2,150 the week prior but 458 auctions more than at the same time last year (1,543).  The lower auction count was accompanied by a 2.4 percentage point drop in the … Continue reading Winter slowdown underway as auction volumes fall across combined capitals

By Caitlin Fono, Research Analyst, CoreLogic Australia There are 2,073 capital city homes currently scheduled for auction this week, down -3.6% from last week when 2,150 auctions were held. While down week-on-week, the number of auctions set to take place this week is significantly higher than the same week last year (1,543). Melbourne is set to see 881 homes taken to auction this week, down -9.6% … Continue reading Just under 2,100 homes set for auction across the combined capitals

Australian property resales reached their highest rate of profitability since July 2010 in the first quarter of the year thanks to consistently rising home values outweighing economic challenges and persistently high mortgage rates. CoreLogic’s Q1 2024 Pain & Gain report analysed approximately 85,000 resales over the period, revealing 94.3% of transactions recorded a nominal gain. CoreLogic’s Head of Research Eliza Owen said the number of transactions increased 8.5% … Continue reading Profitability reigns as property gains hit 14-year high

By Caitlin Fono, Research Analyst, CoreLogic Australia There were 2,074 capital city homes taken to auction last week, compared to 2,276 over the previous week and 1,791 this time last year. The preliminary clearance rate came in at 72.4%, just 50 basis points lower than the previous week’s preliminary clearance rate (72.9%, revised down to 65.5% once finalised). There were 829 auctions held in Sydney returning a preliminary clearance … Continue reading Preliminary auction clearance rate of 72.4% across combined capitals

By Tim Lawless, Research Director, CoreLogic Australia Mortgage arrears have been rising from their COVID lows of just 1.0% in Q3 2022, reaching 1.6% in the March quarter of 2024.  Although this was the highest reading on mortgage arrears since Q1 2021, the portion of loans falling behind on their repayment schedules was slightly higher at the onset of COVID at 1.8%. The upwards trends in … Continue reading Mortgage arrears are rising from record lows, and likely to rise further

By Caitlin Fono, Research Analyst, CoreLogic Australia The number of homes going under the hammer rebounded last week following the previous week’s drop in auction volume due to the King’s Birthday long weekend in many states.  2,232 auctions were held, up from 1,317 the week prior and nearly 15% higher than at the same time last year. The preliminary combined capitals clearance rate also bounced higher … Continue reading Clearance rates are looking resilient, despite higher volumes