By Eliza Owen, CoreLogic Head of Australian Research For a Budget that made housing one of its central focuses, the federal government has three big ‘misses’ in the plans laid out on Tuesday night. Our Budget analysis considers what could be done more efficiently in the approach to Commonwealth Rental Assistance (CRA), construction, and use of existing supply. What did the Budget get right on … Continue reading The three big ‘misses’ in the Budget on housing

By Caitlin Fono, Research Analyst, CoreLogic Australia The volume of capital city auctions remained above the 2,000 mark for the second week running, with 2,168 properties going under the hammer last week. The number of auctions was down -1.5% on the previous week (2,202) but 28% higher than at the same time last year (1,692). The preliminary clearance rate, at 72.6%, was the lowest since the … Continue reading Lowest preliminary auction clearance rate since Easter long weekend

Commentary by Tim Lawless, Research Director at CoreLogic Asia Pacific The interest rate outlook has changed remarkably in a short space of time. It was less than two weeks ago that financial markets and many economists were forecasting a rate cut as early as September. With the release of higher than expected inflation figures for the March quarter, a new ‘higher for longer’ mantra has … Continue reading Higher for longer? The new cash rate paradigm

By Caitlin Fono, Research Analyst, CoreLogic Australia The preliminary auction clearance rate stepped a little higher last week, rising to 73.5% across the combined capitals, up from a preliminary rate of 72.9% the week prior which revised lower to 66.1% once finalised. Sydney continued to standout with a strong preliminary clearance rate at 78.1%, although this was slightly lower than the previous week at 78.3% (71.0% … Continue reading Increase in preliminary auction clearance rate week-on-week

Property Weekly Pulse with Rasti:Week Ending 3 May ’24 Welcome to the latest insights from the Australian property market! This week, we delve into the trends and transformations shaping the landscape from Queensland’s booming home loan sector to the bustling auction floors across capital cities. Whether you’re a first-time buyer or a seasoned investor, our roundup provides essential data and expert commentary that will help … Continue reading Australia’s Property Market Trends from Home Loans to Tax Reforms

By Kaytlin Ezzy, Economist, CoreLogic Australia After holding relatively flat for the past four-weeks, the combined capitals are expecting a 14.8% rise in weekly auction activity, with 2,255 homes currently scheduled to go under the hammer. The previous week saw 1,964 capital city homes auctioned, while this time last year, 1,724 auctions were held across the capitals.  Melbourne’s weekly auction activity is set to exceed the 1,000 mark for the first time in six weeks, … Continue reading Combined capitals set to host the busiest week of auctions since before Easter

Australian home values continued to trend higher in April with CoreLogic’s national Home Value Index (HVI) rising 0.6%. This was on par with the pace of gains recorded in both February and March, with the month-on-month rise adding approximately $4,720 to the national median dwelling value. April’s increase takes the current growth cycle into its 15th month, with housing values up 11.1% or approximately $78,000 since the … Continue reading Housing values rise 0.6% in April, as low supply trumps high interest rates and inflation

By Eliza Owen, Head of Research Australia is slowly moving through an enormous (though temporary) spike in overseas migration. The ABS reports Australia’s population increased 2.5%, or 660,000, in the year to September 2023. Its latest regional migration data reveals the areas with the highest migration levels through the 2022-23 financial year (FY23). This has been driven by a combination of internal migration (movement from one part … Continue reading The biggest migration hot spots and the impact on housing trends

Property Weekly Pulse with Rasti:Week Ending 26 Apr ’24 Boost in Property Sector Confidence The latest Procore/Property Council Survey unveils a significant rise in confidence within the Australian property industry. Matthew Kandelaars of the Property Council of Australia highlights the impact of stable interest rates and improved finance accessibility on the market’s stability. Despite obstacles like inefficient state planning systems, Kandelaars emphasises the need for … Continue reading Australian Property Market: Surge in Confidence and Unprecedented Price Growth

By Caitlin Fono, Research Analyst, CoreLogic Australia The preliminary capital city clearance rate came in at 74.4% last week, up 1.7 percentage points relative to the previous week (72.7% which revised down to 65.2% once finalised). The combined capitals preliminary clearance rate has consistently held above 71% through the year to-date, with a low of 71.1% in the last week of March to a high … Continue reading Improvement in preliminary clearance rate across combined capital cities