Distressed Sales Activity Falls Again Key Points  National residential property listings fell in January by 5.8% to 215,144 dwellings from228,415 recorded in December Nationally, new listings (Less than 30 days) fell by over 19.6% in January, with 42,409new property listings added onto the market. Listings greater than 180 days old rose by 1.3% to over 58,899 dwellings. National combined dwelling asking prices fell 0.1% … Continue reading Property Listings Record Soft Start to New Year

Auction activity is continuing to increase after the festive slowdown, with 1,306 homes taken to auction across the combined capital cities this week, up 83.9% from last week (710), although -26.6% lower than the same week last year (1,779). Of the 938 results collected so far, 67.4% were successful, down just 50 basis points from the previous week’s preliminary clearance rate of 67.9%, which revised … Continue reading 1,306 Homes taken to auction across the combined capital cities this week

Normally at this time of the year the number of fresh listings is moving through a dramatic seasonal upswing, however early indicators suggest the flow of new listings are starting relatively softly. After a lackluster listings season through spring and early summer last year, vendors still seem to be reluctant to test the housing market at the start of 2023. The flow of new listings … Continue reading Will low listings persist into 2023?

More than half of the country’s house and unit suburb markets saw a fall in value in 2022, as the national property downturn became more widespread due to consecutive rate hikes, high inflation and weak consumer sentiment.  CoreLogic’s interactive Mapping the Market Report has found the proportion of national house and unit markets recording a quarterly decline in values increased from 76.9% in September to 80.7% in … Continue reading One in two Australian house and unit markets declined in value last year

·       Rents nationally increased 10.2% in 2022, a record high for annual rent growth ·       New rental listings hit 10-month high and vacancy rates ease, albeit slightly ·       Canberra was the only capital city where dwelling rents declined in Q4 As Australia’s rental market continues to tighten to record levels, the pace of rental growth has slowed for the second consecutive month, possibly due to a seasonal lift … Continue reading Pressure on Australia’s rental market shows tentative signs of easing despite new 10.2% record for annual rent growth

The CoreLogic Daily Home Value Index (HVI) hit a record decline of -8.40% on 7 January 2023 after peaking on 7 May 2022. The result takes the national housing downturn into new territory, breaking the previous record in peak-to-trough declines, when home values fell -8.38% between October 2017 and June 2019. While the housing downturn between 2017 and 2019 lasted 20 months, the new record-breaking price falls … Continue reading Australian home values record the largest decline on record

After the monthly rate of decline moderated between September and November, housing markets finished the year on a weaker note, with CoreLogic’s national Home Value Index falling -1.1% in December, taking values -5.3% lower over the 2022 calendar year. The re-acceleration in the downwards trend was mostly driven by a worsening in the monthly rate of decline across Melbourne (which lifted 40 basis points between November’s … Continue reading December’s -1.1% fall takes Australian housing values down -5.3% over 2022