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…
Latest Property News
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.…
The Reserve Bank of Australia (RBA) announced the cash rate will remain unchanged at 4.10% after its monetary policy meeting today. This marks the third consecutive meeting at which the cash rate has been held. The decision was in line with expectations, as it comes shortly after the Australian Bureau of Statistics released data showing…
Despite regional housing values rising for the past five months, a new analysis of year-on-year performance shows many markets are still reeling from high interest rates and a shift in migration patterns back to pre-COVID levels. CoreLogic’s quarterly Regional Market Update, which examines Australia’s 25 largest non-capital city regions, shows 18 areas recorded an annual decline in…
Research News • 01 Aug 2023 CoreLogic’s national Home Value Index (HVI) rose 0.7% in July marking a fifth consecutive month of housing value recovery. Since finding a floor in February, the national HVI is up 4.1%, following a -9.1% decline from record highs in April 2022. Nationally, home values remain -5.3% below the April 2022…
Research News • 24 Jul 2023 The proportion of property investors active in the marketplace is back to its long-term average, comprising 34% of mortgage demand, based on the value of new mortgage commitments. According to ABS lending indicators, at a state level NSW is receiving the bulk of the interest, with investors accounting for 38%…
by Adrian Suljanovic•14:30 PM, 1 Aug 2023 The Reserve Bank has paused the cash rate yet again as it waits to assess the impact of the previous 12 hikes. Following its August monetary policy meeting today (1 August), the Reserve Bank of Australia (RBA) has decided to hold the official cash rate steady at 4.1…