The combined capitals’ preliminary auction clearance rate increased slightly last week and reached the highest early clearance rate since the last week of July. CoreLogic data has revealed that the combined capitals’ preliminary auction clearance rate reached 71.4 per cent last week. The result was 70 basis points higher than the previous week (70.7 per […]
The central bank has reported that arrears have ticked up from low levels since late 2022, and outlined the drivers behind this. In its July 2024 Bulletin, the Reserve Bank of Australia (RBA) said that housing loan arrears have increased steadily since 2022, alongside rising household budget pressures from higher inflation and interest rates. It […]
Dwelling values are currently at a record high in Sydney, Brisbane, Adelaide and Perth, according to new data. CoreLogic’s Monthly Housing Chart Pack for August 2024 has revealed that Australia’s 11.2 million dwellings are worth a total of $10.9 trillion. Borrowers have $2.3 trillion in outstanding mortgage debt, while 56.2 per cent of their household […]
Despite slower growth, national home prices reached a new peak in June 2024, marking 18 months of consecutive increases, according to a new report. The latest PropTrack Home Price Index has revealed that national home prices rose by 6.55 per cent since June 2023 to a median price of $787,000. Prices lifted 0.18 per cent […]
There was an uptick in housing affordability in several states recently but the number of first home buyers declined, according to new figures. The Real Estate Institute of Australia’s (REIA) Housing Affordability Report for the March 2024 quarter has revealed that there was a modest improvement in housing affordability for homebuyers during this period for […]
The peak body for residential building has pushed policymakers to take action to reach state and national housing targets in the near future. The Housing Industry Association (HIA) urged state and federal policymakers to pull levers within their reach as Australia faces an “acute” housing shortage and record population growth that are expected to prolong […]
Dwelling values across regional Australia saw the fastest quarterly growth rate in almost two years, according to new research. CoreLogic’s Regional Market Update for May 2024 has revealed that dwelling values across regional Australia rose by 2.1 per cent over the three months to April, the strongest result since the three months to May 2022 […]
Property and rent prices will keep rising until new housing supply comes online, but this will take time to occur given current new dwelling approvals, the central bank said. In her speech at the Real Estate Institute of Australia (REIA) Centennial Congress in Hobart on 16 May, the Reserve Bank of Australia’s (RBA) assistant governor […]
Higher interest rates haven’t dented property prices, which hit their peak nationally in April 2024, according to new data. The PropTrack Home Price Index for April 2024 revealed that national home prices rose 6.6 per cent annually and 0.23 per cent in April to a median value of $774,000. This is despite the Reserve Bank […]
Challenges concerning mortgage serviceability, housing affordability, and hurdles to saving a deposit could dampen first home buyer (FHB) activity this year, according to a new report. The latest ANZ CoreLogic Housing Affordability Report for the March 2024 quarter has highlighted the challenges FHBs face amid multiple economic headwinds like rising interest rates and a deterioration […]