RESIDENTIAL PROPERTY
REGIONAL home value growth is outperforming the capital city market, despite internal migration trends normalising.
According to CoreLogic’s Regional Market Update, dwelling values in regional Australia recorded a combined quarterly increase of 1.2% in the three months to...
“The more recent trend where growth in regional housing values has outpaced the capital cities is attributable to a slowdown in capital city growth rates rather than...
“The strongest growth conditions have been skewed towards regional areas of WA and Queensland. These areas have a diverse economic base and are generally supported by...
On the other end of the spectrum, Launceston and Devonport in Tasmania recorded the greatest quarterly declines at 2.3% and 2.0% respectively...
“A combination of affordability constraints following the pandemic surge in values, negative interstate migration and a normalisation in internal migration rates are...
Meanwhile, CoreLogic’s regional rental index recorded a 2.3% increase over the quarter, up from a low of 0.4% in the September quarter, as the regions moved into...
WA again topped the list for growth, with the top four regions for annual increases including Bunbury at 14.8%, Busselton at 12.7%, Geraldton at 12.1% and...
NSW’s Bateman’s Bay was again the weakest market, recording the highest quarterly decline for rents, down 1.8% and an annual decline of 10.2% in the...
“Regional cities in the ‘sweet spot’ — offering commuting options to a capital city, a lifestyle dividend, and affordable housing — will likely experience stronger demand than...
“In contrast, the performance of more remote regional markets will hinge on local economic factors, with infrastructure projects impacting housing demand, and climate, weather...