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,…
Latest Property News
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.…
The Reserve Bank has made its cash rate decision for October, with the board flagging some major uncertainties in the future of the economy. The Reserve Bank of Australia (RBA) has decided to hold the official cash rate at 4.1 per cent for the fourth consecutive month following its October monetary policy meeting. Notably, the…
The Reserve Bank of Australia (RBA) has left the cash rate at 4.10% for the fourth consecutive month, as many commentators had expected. While the RBA has said in the past few months that it may increase the cash rate in the future, many commentators believe that rates have now peaked. Inflation will be the…
In this article, CoreLogic Economist Kaytlin Ezzy explores Australia’s unit market and the looming shortfall in median-high density housing stock. The medium to high-density sector has increasingly become an important part of Australia’s residential real estate market, with units steadily making up a larger portion of Australia’s housing stock. In August, CoreLogic estimated that units…
CoreLogic Head of Research Eliza Owen explores the three reasons why rent growth is expected to slow in 2024. Rent values rose for the 35th consecutive month nationally in July. However, monthly rent growth has eased over the past four months. In regional Australia, rent value growth has been slowing since April last year, and…
The combined value of Australian housing rebounded to $10 trillion at the end of August, the first time the total estimated value hit double digits since June 2022. The increase resulted from a combination of higher values, with the median home value in Australia reaching $732,886 at the end of the month, and the stock…
CoreLogic’s national Home Value Index (HVI) marked a sixth consecutive monthly rise, up 0.8% in August. The monthly gain was a slight acceleration from the 0.7% increase in July, interrupting a two-month trend of slowing capital gains. Since bottoming out in February, the national HVI is up 4.9%, adding approximately $34,301 to the median dwelling value.…