By Eliza Owen, Head of Research Here are the highlights of CoreLogic’s Monthly Chart Pack, which covers off on housing market data to the end of March 2023. Continue reading Monthly Chart Pack shows combined value of residential real estate in Australia rose to $9.4 trillion at the end of March

Property prices in Australia have risen for the first time in 10 months, but supply shortages are set to continue the rental crisis. New data from CoreLogic released today showed the median value of properties sold across Australia went up by 0.6 per cent in March. The property research company said the figure was not reflected in all states, but tomorrow’s looming interest rate decision … Continue reading House prices increase

A Sydney mayor has warned the western suburbs are “full” ahead of a forecast major influx of migrants. About 650,000 people are set to arrive in Australia in the next two years. Western Sydney is a traditional destination for many and Fairfield Mayor Frank Carbone says they have always been welcomed. But right now, he said, there isn’t enough housing or infrastructure in the west … Continue reading No room left

The Reserve Bank of Australia (RBA) has pressed pause on its historic cycle of interest rate hikes, keeping the cash rate target on hold at 3.6 per cent. Presented with softening inflation data and a largely flat unemployment rate, the RBA board decided to err on the side of caution and wait for the effects of 10 consecutive interest rate hikes to flow through to … Continue reading Rates on hold

Landlords will only be able to raise rent once a year, under new reforms announced by the Queensland government. Developers will also be given tax breaks in a bid to bring more properties onto the market and address the escalating housing crisis. The sweeping changes were announced by Premier Annastacia Palaszczuk today at Parliament House. Under the changes, the government wants private investors to be … Continue reading Hold put on Qld landlords

After remaining virtually flat in February (-0.1%), CoreLogic’s national Home Value Index (HVI) posted the first month-on-month rise since April 2022, up 0.6% in March.  Dwelling values were higher across the four largest capital cities and most of the broad ‘rest-of-state’ regions, led by a 1.4% gain in Sydney. CoreLogic’s Research Director, Tim Lawless, put the rise down to a combination of low advertised stock levels, … Continue reading CoreLogic Home Value Index: National home values up 0.6% in March, breaking a 10-month streak of falls

The number of suburbs where it’s cheaper to buy than rent has been slashed in the past year, due to a record number of rate hikes that have outpaced skyrocketing rents. CoreLogic’s analysis of 3,904 house and unit markets nationally found for houses, just 9.1% of suburbs were cheaper to buy than rent, down from 30.2% of suburbs this time last year. For units, just 16% … Continue reading It’s cheaper to rent than buy a house in 90% of Australian suburbs

By Caitlin Fono, Research Analyst, CoreLogic Australia With this being the last week before Easter, we are expecting to see the busiest auction week since late May 2022 when 3,226 auctions were held. There are currently 2,876 homes scheduled for auction across the combined capital cities this week, up 24.9% on last week (2,303), although -10.4% lower than this time last year (3,209). Although auction … Continue reading Biggest auction week since May 2022  (additional commentary from Tim Lawless)

By Caitlin Fono, Research Analyst, CoreLogic There were 2,292 homes taken to auction across the combined capital cities making it the second busiest auction week so far this year. Of the 1,795 results collected so far, 71.0% were successful, the highest preliminary clearance rate recorded since mid-April 2022 (73.3%). Last week’s final clearance rate was revised down to 64.2% after holding above 65% for the … Continue reading Combined capital cities record the highest preliminary clearance rate since mid-April 2022

Falling home values and hesitant sellers are translating into longer holder periods and rapidly declining profits for short-term sellers in CoreLogic’s latest Pain & Gain Report. The December quarter analysis of approximately 79,000 resales – 7.3% lower than the previous quarter – found the portion of loss-making resales increased to 6.9%, up from a revised 6.6% in the three months to September. CoreLogic Head of Research … Continue reading Homeownership hold periods increase as short-term profits plunge