The revelation follows on from the findings outlaid in the Real Estate Institute of Australia’s (REIA) Housing Affordability Report. The report, which found that overall housing affordability worsened during the June quarter — with families needing to spend 38.4 per cent of their income on average to service home loans — also concluded that Western Australia ranked […]
A total of 2,190 auctions took place across Australia’s combined capital cities last week. This figure was up from 1,918 auctions held the previous week and 1,672 that took place this time last year, making it the largest auction week since late June. At this time, CoreLogic is reporting a preliminary clearance rate of 62.5 […]
A report has indicated that one in three out-of-state buyers are inspecting properties in Queensland, with one in four across Australia are looking at properties’ interstate. Virtual tours platform, Little Hinges, released a report entitled Sight Unseen in August 2022 which revealed that interstate inspections continue to make up 25.9 per cent of all property inspections nationwide. […]
The total value of residential dwellings in Australia fell $162.4 billion to $9.98 trillion this quarter. The latest data from the Australian Bureau of Statistics (ABS) showed the mean price of residential dwellings fell $18,900 to $921,500 over the three months to June. This equates to a valuation drop of approximately $6,300 a month or […]
Lending for new homes fell over the year to July, with an “overwhelming” majority of variable loans written, CBA data reveals. The Commonwealth Bank’s (CBA) lending data for July 2022 revealed lending for new housing took a steep fall over the year to July, led by lending to owner-occupiers, lending to purchase existing dwellings, and […]
Australia’s regional homes are following trends observed in capital cities, with prices dropping by 20 bps over the three months to July. The latest quarterly Regional Market Update from CoreLogic showed dwelling values across the combined regions rose 17 per cent over the 12-month period to July. The figures stand in stark contrast with the […]
More data has suggested that Australia’s property prices are falling, with new figures reporting that values fell by 2 per cent last quarter. According to the property platform, this negative change is part of a larger cooling market that has been induced by a myriad of reasons, including higher inflation and interest rates. The impact […]
The “unusually busy” winter period saw property listings increase by 4.9 per cent on last year, the largest year-on-year increase in July listings since 2010. REA Group’s PropTrack Listings Report for July 2022 has found that while the total supply of properties available for sale lifted by just 0.6 per cent in July, listings increased by the largest amount for […]
The number of capital city homes clearing auctions reached its lowest recorded figure in over two years, according to new data. As calculated by the property platform’s latest Auction Report, the clearance rate across Australia’s capitals was 51.8 per cent in July, the lowest rate reported since May 2020. This result reflected a 30-bp fall and […]
The first month of winter saw no improvement to the recent downswing of approved residential constructions, according to new data. According to the Australian Bureau of Statistics results, the trend figures for total dwellings approvals across the country over June were 15,780, marking no change from May and a 19.7 per cent drop year-on-year. Seasonally […]