After years of unprecedented accelerated growth, residential construction costs have stabilised, growing at the slowest annual rate in 22 years, CoreLogic’s Cordell Construction Cost Index (CCCI) shows. The Q2 2024 national CCCI, which tracks the cost to build a typical new dwelling, recorded a 0.5% rise, a further slowing from the 0.8% increase recorded in Q1. During…
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Australian dwelling values increased a further 0.7% in June, taking growth to 8.0% across FY2023-24. This is the equivalent of a $59,000 increase to the median dwelling value in Australia, which is now $794,000. The annual rise was in stark contrast to the FY2022-23 when CoreLogic’s national index was down -2.0%. In that year, annual…
Core Logic Company News • 20 Jun 2024 In today’s Pulse article, Tim Lawless delves into rising mortgage arrears and ‘riskier’ lending loan trends. Mortgage arrears have been rising from their COVID lows of just 1.0% in Q3 2022, reaching 1.6% in the March quarter of 2024. Although this was the highest reading on mortgage arrears since…
In recent months, sellers have been eager to take advantage of market momentum, bringing more supply to the market. A steady flow of new listings has surpassed both last year’s numbers and the five-year average. In fact, it was the highest volume of new listings for the month of May since 2021 — testing the…
Core Logic Research News • 14 Jun 2024 In today’s Pulse article, Head of Research Eliza Owen dives deep into the ‘multi-speed’ growth trends in Australian housing markets covering: 1. Australia’s capital growth performance The range of annual growth across the capital cities stretches from a 22.0% rise in Perth dwelling values, to a -0.1% dip…
Council is developing a Masterplan for the Strathfield Town Centre to support an exciting, accessible and vibrant destination that can be enjoyed by all. Introduction Strathfield Council is pursuing an exciting new vision for the future of the Strathfield Town Centre, and we are seeking your feedback. Council has commenced the preparation of a Masterplan…
Core Logic Research News • 03 Jun 2024 CoreLogic’s Home Value Index rose 0.8% in May, the 16th consecutive month of growth and the largest monthly gain since October last year. The mid-sized capitals continued to lead the pace of growth, with Perth home values up 2.0% in May, Adelaide rising 1.8% and Brisbane up 1.4%. In dollar…
Core Logic Research News • 22 May 2024 In today’s Pulse, Tim Lawless analyses the increasing vendor and buyer activity nationwide. As we approach the cooler winter months the flow of new listings coming to market is slowing, but tracking well above the previous five-year average. Over the past four weeks CoreLogic tracked 38,258 freshly advertised…
Team at Metro Realty | 2 hours ago Impact of Interest Rates on the Sydney Real Estate Market Despite the upward movement of interest rates, Sydney’s real estate market continues to exhibit resilience and growth. This dynamic market has shown that strategic investment and understanding market trends can yield significant returns. Let’s chat about how the changing interest…
Research News • 08 May 2024 Amidst Australia’s historic two-year rate hike cycle, the property market has become a picture of resilience and decline, showcasing stark contrasts across cities, suburbs, and regions. A CoreLogic Australia analysis comparing the property market’s performance two years before and after the rate hike cycle reveals that home values across the…