1. Australian home values rose 25%, to record highs. Despite an initial dip, housing values rose 24.6% between the end of March 2020 and February 2022. Figure 1.0 shows the cumulative change in the national CoreLogic Home Value Index since the onset of COVID-19. The index had a relatively small decline at the onset of…
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1. Dwelling values softenDwelling values in Australia are 20.6% higher over the past 12 months (0.6% gain in February) which is down from the recent high of 22.4% in the 12 months to January and market peak of 2.8% in March 2021. 2. Highest and lowest growth rateThe highest annual growth rate in dwelling values…
The RBA has maintained the cash rate at its record-low level of 0.1 per cent. According to PropTrack senior economist Eleanor Creagh, the decision was to be expected. Acknowledging that many have brought forward their expectations for the timing of the first cash rate hike, Ms Creagh highlighted that many people are pointing to the…
Source: Domain Research Key findings Sydney and Melbourne had the highest number of auction listings for the month of February since Domain records began. Clearance rates have continued to slow as a result of increased volumes and reduced competition. For the first time in 21 months, Sydney unit clearance rates have outperformed houses, a reflection…
New Zealand has taken the top spot from the United States, as the country with the largest increase in searches year-on-year (37%), driven by the opening of the trans-Tasman travel bubble, mid year. China also made a comeback in December, increasing by 13% on December 2020. Searches from the United States and United Kingdom have…
December saw a surge in market activity as many vendors, who had delayed listing during lockdowns, raced to sell by year end. Buyers responded, with more properties selling in the second last week of December than in any other week in 2021. While buyer demand remains strong, there are signs the market is moderating and…
New listings in capital cities were down 60.8% month-on-month in December, after a very strong November. Regional areas also saw new listings decline sharply, down 27.3% month-on-month. Property markets around Australia entered their typical end-of-year break in December. Overall new listings on realestate.com.au declined 48.9% month-on-month in December, which is consistent with the slowdown we…
If you are currently looking to relocate, you may be trying to determine whether to do property lease or purchase. It can sometimes be challenging to figure out which will work better over the long term. This can depend heavily upon your current financial circumstance and long term objectives. There are a few advantages to…
For safety purposes, Strathfield Partners ensures that all open inspections adhere to our Covid-19 safety plan. It is a condition when attending the open inspection that you comply with the Public Health (Covid-19 Restrictions on Gathering and Movement) Order (No.4) 2020. This is available to view or download at www.legislation.nsw.gov.au During open inspections, agents may…
The Reserve Bank today confirmed the official cash rate will remain at 0.10% for the foreseeable future. Rising inflation and falling unemployment led to speculation in the lead up to the meeting that the RBA would be forced to reassess its 2024 forecast for the next rate rise. With future rate rises linked to wages…