Australia’s housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months. CoreLogic’s interactive Mapping the Market tool, updated with data to the end of October 2023, found 83.1% of house markets and 80.6% of unit markets saw values rise in…
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Market wrap for Strathfield – Burwood – Ashfield October 2023 quarter Dr Nicola Powell Chief of Research and Economics Sydney’s housing market recovery moved through its third quarter of house and unit price growth – a rising stretch that hasn’t occurred since 2021. This has pushed annual house price gains to an 18-month high. For…
In this article, CoreLogic Head of Research Eliza Owen addresses the debate on Australia’s migration strategy and shares five key insights on overseas migration and the housing market. Overseas migration is frequently being called out as one of the primary factors influencing the housing market. In the face of high interest rates, low consumer sentiment…
A word from Eugene Vassiliev This update provides a snapshot of the latest news and insights for the banking and finance industry. Recently, CoreLogic’s national Home Value Index rose a further 0.9% in October, accelerating from a 0.7% rise in September. Our research director, Tim Lawless, noted a nominal recovery in the national index is likely…
By Adrian Suljanovic 07 November 2023 The November rate hike is set to disrupt the nation’s housing market rebound according to CoreLogic’s research director. The Reserve Bank of Australia (RBA) has announced its decision to lift the official cash rate by 0.25 per cent from 4.1 per cent to 4.35 per cent. This cash rate…
In this article, CoreLogic Head of Research Eliza Owen analyses rental markets across Australia’s combined capitals and identifies the cheapest rents within 20km of CBDs. Across the combined capital city markets of Australia, rent values have risen another 10% in the 12 months to September. Limited availability of stock, a strong net overseas migration position…
CoreLogic’s national Home Value Index rose a further 0.9% in October, accelerating from a 0.7% rise in September (revised down from 0.8%). Since finding a trough in January, the national HVI has increased 7.6%, leaving the index only half a percent below the historic high recorded in April last year. CoreLogic’s research director, Tim Lawless,…
Research News • 11 Oct 2023 A sharp slowdown in the pace of construction cost growth may be an early sign that pressures are stabilising within the building sector. CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new dwelling, returned a quarterly growth rate of 0.5% for the September quarter, the…
Despite worsening affordability easing the pace of rental growth in Australia, rental availability tightened in September, with vacancy rates falling to new record lows across the country. CoreLogic’s Quarterly Rental Review for Q3 2023 shows rental values rose 1.6% over the quarter, down from the 2.2% rise seen in the June quarter and a full percentage…
Despite profitability in Australian home resales increasing for the first time in a year, the portion of loss-making short-term resales increased to 9.7%, from just 2.7% a year ago. The CoreLogic Pain & Gain report for the June quarter shows the rate of profit-making sales increased for the first time in a year, to 92.8% of resales.…