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Sam2019
City
Over the June 2021 quarter, Canberra saw a 10.4 per cent increase in house prices — the only capital city to see double-digit price growth over the said period. But Canberra is not the only capital city breaking records, according to Domain.
Sydney’s twice-consecutive price growth of 8 per cent was deemed a “rare growth only seen three times over the past 30 years”, while its annual rise at 24 per cent exceeded the boom-time results of 2015 and 2002. Similarly, Perth recorded its strongest annual increase in 11 years, with house price reaching a six-year high over the June quarter — supported by internal migration into Greater Perth, which is currently the highest level since 2013. The WA capital also saw its busiest June quarter since 2014 for houses and units based on properties sold.
Adelaide, meanwhile, has surpassed the $600,000-mark for the first time, marking the city’s “strongest growth period since late 2007”. The strength of buyer demand has also resulted in the highest volume of sales transactions ever recorded for the SA capital, for both houses and units. Source: x
Capital cities break price growth records
Canberra may have dominated the market with double-digit growth and the steepest price acceleration in almost three decades, but other capital cities have hit records of their own, Domain has revealed...
www.smartpropertyinvestment.com.au
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193 Views
10Mo ago
James
City
The latest figures from CoreLogic showed that 2,077 auctions are scheduled across combined capital cities in the week ending 1 August, up 20 per cent on last week’s final figures at 1,728 and also higher than last year’s 1,154.
Of the capital cities, Melbourne remains on top, with the highest number of homes set to go under the hammer at 909 – rising 18 per cent on last week’s volumes following the city’s emergence from its fifth lockdown.
Sydney also continues to show strength despite remaining in lockdown, with a 23 per cent week-on-week rise on scheduled auction volumes to 721 from last week’s 585. Final auction clearance rates fell over the past week as multiple cities struggled through lockdowns, including Sydney, Melbourne and Adelaide.
CoreLogic revealed a final auction clearance rate of 73 per cent out of 1,728 auctions over the week ending 18 July – declining from last week’s 73.7 per cent when a higher 2,097 auctions were held. Get details at: x
Less lockdowns lead the way for auction recovery
Capital city auction activity is expected to rise over this weekend as some cities see lockdown measures ease, new data has revealed.
www.smartpropertyinvestment.com.au
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167 Views
11Mo ago
James
City
There are 2,271 capital city homes set to go under the hammer in the week ending 11 July, up slightly from last week’s 2,168 auctions, figures from CoreLogic revealed.
Melbourne continues to dominate as Sydney remains in lockdown, with 1,085 homes set to go under the hammer this week – up from last week’s 1,097 and over double the 506 auctions held at the same time last year.
Sydney, on the other hand, is set to see a much lower 797 auctions following the state government’s decision to extend the lockdown by another week. This figure is, however, slightly higher than last week’s 756 and last year’s 566. Continue reading at: x
Auction volumes edge up slightly amid prolonged Sy...
Capital city auction markets are slowly recovering after localised lockdowns sent volumes spiraling a week earlier.
www.smartpropertyinvestment.com.au
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139 Views
11Mo ago
InvestAus
NSW: NSW capital continued to hold the title as the second most expensive capital city rental market
arwin emerged as the strongest capital city rental market over the year, with house rents increasing by 24.2 per cent and unit rents increasing by 20.2 per cent in the 12 months to 12 May 2021, according to new research from Domain. In contrast, Melbourne house rents have declined by 5.2 per cent during the same period, while its unit rents fell by an even larger 11 per cent.
Sydney’s rental growth was also lackluster, with house rents increasing by only 2.4 per cent and unit rents decreasing by 5.7 per cent.
Still, the NSW capital continued to hold the title as the second most expensive capital city rental market, with median house rent at $663.4 and median unit rent at $453.1 – surpassing the capital city average of $556 and $411, respectively. It follows Canberra, where median house rent is at $690.6 and median unit rent is at $492.7. Get details at: x
Small capital cities lead rental growth with doubl...
While Sydney and Melbourne’s rental markets continue to struggle, the smaller capital cities are thriving, having achieved massive growth in the past 12 months.
www.smartpropertyinvestment.com.au
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513 Views
Anuj
City
The combined value of rent estimates for all properties increased by 9.6 per cent in the year to April in regional Australia, far outpacing the 3.3 per cent growth recorded across the capital cities, CoreLogic’s latest Quarterly Regional Report revealed.
The report also pointed to “extraordinary” tightening across regional rental markets, with rental listings halving over the year to April in 25 SA4 regions. Consequently, rent values increased by 9.4 per cent on average, ranging from a boost of 17.6 per cent in New South Wales’ Richmond-Tweed to 2.3 per cent in the state’s capital region. Continue reading at: x
Regional rents soar as people flee cities
Regional rent values have outpaced the capital city markets by almost three times, a new report has revealed.
www.smartpropertyinvestment.com.au
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249 Views
James
City
Australia’s property market was negatively impacted at the beginning of the pandemic. Millions of Australians lost their jobs or were thrown onto welfare, consumer confidence cratered, property inspections and auctions were stopped, and the 5-City CoreLogic dwelling values index fell between April and October 2020.
However, the subsequent rebound has been utterly spectacular, with all major capitals experiencing strong price growth. Sydney:
Sydney dwelling values initially fell 2.1%, bottoming on 13 October 2020.
Since then, Sydney values have rebounded 9.1% to be 6.7% higher than the pre-COVID level on 15 March 2020.
Melbourne:
Melbourne dwelling values initially fell very sharply, declining 5.9% to 18 October 2020.
Values have since rebounded strongly, rising 7.3% to be 1.0% higher than the pre-COVID level. Get details at: x
Aussie property's stunning COVID rebound - MacroBu...
Just over a year ago, COVID-19 was declared a global pandemic by the World Health Organization (WHO). A nation-wide lockdown ensued, which was followed by a further 14-week hard lockdown across Victor...
www.macrobusiness.com.au
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168 Views
Justprop Team member
City
Hobart recorded the highest quarterly rise in weekly house rents at 4.3 per cent, followed by Adelaide at 3.7 per cent, Perth at 3.6 per cent and Brisbane at 3.5 per cent. Meanwhile, Sydney, Canberra and Darwin remained stable.
Of all the capital cities, only Melbourne saw house rents decline by 2.3 per cent – making it the second most affordable capital city to rent a house for the first time on record, alongside Perth and behind Adelaide. “For the first time on record, Melbourne is the second most affordable capital city to rent a house, joint with Perth and behind Adelaide,” Domain’s senior research analyst, Dr Nicola Powell, said. But while Melbourne’s vacancies have declined in recent months, they remain 182 per cent higher than last year, according to Dr Powell. This was directly influenced by the reduction of demand as a result of international border closures, more tenants becoming home owners and city residents moving to lifestyle locations.
“Inner Melbourne units have felt the brunt, with rents now at 2010 levels after tumbling by $110 a week annually,” Dr Powell noted. Source: x
Melbourne becomes Australia’s 2nd most affordabl...
While most capital cities saw house rents soar to new record highs over the first quarter of 2021, Melbourne continued to lag behind – becoming the second most affordable capital city to rent in Aus...
www.smartpropertyinvestment.com.au
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151 Views
John
City
Australia’s property market was negatively impacted at the beginning of the pandemic. Millions of Australians lost their jobs or were thrown onto welfare, consumer confidence cratered, property inspections and auctions were stopped, and the 5-City CoreLogic dwelling values index fell between April and October 2020.
However, the subsequent rebound has been utterly spectacular, with all major capitals experiencing strong price growth. Sydney:
Sydney dwelling values initially fell 2.1%, bottoming on 13 October 2020.
Since then, Sydney values have rebounded 9.1% to be 6.7% higher than the pre-COVID level on 15 March 2020.
Melbourne:
Melbourne dwelling values initially fell very sharply, declining 5.9% to 18 October 2020.
Values have since rebounded strongly, rising 7.3% to be 1.0% higher than the pre-COVID level. Continue reading at: x
Aussie property's stunning COVID rebound - MacroBu...
Just over a year ago, COVID-19 was declared a global pandemic by the World Health Organization (WHO). A nation-wide lockdown ensued, which was followed by a further 14-week hard lockdown across Victor...
www.macrobusiness.com.au
0 Reply
139 Views
InvestAus
City
CoreLogic’s weekly auction clearance rate across the combined capitals has been at or above 80% just five times since 2008, and four of those were in March 2021. The week ending 28th March 2021 recorded the highest auction clearance rate on record (83.1 per cent), while also being the busiest week for auctions since late March 2018. As regular readers know, the auction clearance rate has historically been a strong leading indicator of price growth across Sydney and Melbourne.
Sydney’s clearance rate is pointing to ongoing rapid price appreciation: Get details at: x
CoreLogic: Australia's auction market has never be...
CoreLogic has released its Quarterly Auction Market Review, which reveals that Australia’s combined capital city auction clearance rate was the strongest on record in the March quarter of 2021:
www.macrobusiness.com.au
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218 Views
Anuj
City
Real Estate Market Facts, a new report by the Real Estate Institute of Australia (REIA), revealed that the average capital city median price increased by 6.0 per cent for houses and 0.9 per cent for other dwellings over the December 2020 quarter. Sydney continued to be the most expensive city, with a median house price of $1,211,488, while Perth recorded the most affordable median house price of $490,000.In the 12 months to the December 2020 quarter, the average capital city median house price increased by 6.6 per cent.
For other dwellings, the median price across the eight capital cities added 0.6 per cent to sit at $601,345, with all capitals witnessing a rise albeit Adelaide. Continue reading at: x
House and rent prices rise across most of Australi...
The weighted average capital city median price for both houses and other dwellings surged over the December quarter, marking a successful end to a COVID-impacted 2020.
www.smartpropertyinvestment.com.au
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201 Views
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