HOUSING

INSIGHTS, TRENDS AND CASE STUDIES

Our national Home Value Index recorded a second consecutive month of decline in June, down -0.6%, to be -0.2% lower over the June quarter.

Housing markets lost more steam in May as a combination of higher interest rates, rising inventory levels and lower sentiment dampened conditions. CoreLogic’s Home Value Index showed Sydney and Melbourne dwelling values continued to record the most significant month-on-month falls, while Canberra recorded its first monthly decline since July 2019.

Housing values are still rising at the national level, however, with a rise of just 0.6% over the month, April’s growth rate was the lowest reading since October 2020.

Wages likely to pick up despite NAIRU uncertainty. The RBA’s latest ‘best guess’ of the NAIRU is 4%.

Higher inflation is starting to impact buying conditions in the US. Will we see the same trend emerge in Australia?

Nationally, housing values were up 0.7% in March, a subtle increase on the 0.6% lift recorded in February.

The RBA clearly signalled it is contemplating lifting rates over coming months, removing language about being “patient” and pivoting the RBA to once again being forward looking.

CoreLogic’s national measure of housing values rose by 1.1% in January, up 10 basis points from the December result.

Housing values continued to rise last month, but conditions are diversifying as stock levels rise and affordability pressures mount.

One in 10 Australians has moved during the pandemic, with many leaving capital cities for greener pastures. Here, the behavioural economist Dean Pearson explains what this means for house prices in 2022.

Australian housing values rose 1.5% last month, a similar result to August and September. However, the trend shows the market is continuing to slowly lose momentum since moving through a peak monthly rate of growth in March 2021, when values were up 2.8%.

Australian housing values rose 17.6% higher over the first nine months of the year and 20.3% higher over the past 12 months. The annual growth rate is now tracking at the fastest pace since the year ending June 1989.

Despite many parts of the country remaining in some level of lockdown, the housing boom continued to roll on, with national home values rising another 1.5% last month.

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