RESIDENTIAL PROPERTY
A “changing of the guard” is taking place in Australia’s housing market, which is at its most diverse between the capital cities in at least a decade, according to CoreLogic...
However, conditions across the country are varied, with respective available supply levels the driving factor. Three capitals recorded a decline in values over the past three months, led by Melbourne...
Sydney’s pace of growth slowed to 1.1% over the quarter, a fraction of the 5.0% quarterly gain recorded at the same time last year...
Meanwhile, the mid-sized capitals are continuing to buck the slowing trend. Quarterly growth in Perth is tracking at 6.2%, and Adelaide accelerated to 5.0%, its fastest rolling...
Brisbane values rose at a quarterly pace of 3.8%, though this is down from a 4.7% increase seen this time last year...
Changing of the guard
Owen said that Melbourne has sunk to the fourth-most expensive market by median dwelling value – at $781,949 – and “looks very close to being overtaken by Adelaide”...
That may happen next month. Melbourne’s median dwelling is now just 0.7% higher than the median across Adelaide. It’s a changing of the guard and just reflects the diversity of...
Between the end of 2010 and the end of 2023, there were about 770,000 properties completed across Victoria. That’s about 100,000 more than in NSW and it was the highest of...
And then, there are far more properties or far more people looking to sell across Melbourne than there are buying right now,” Owen said. CoreLogic estimates that there were...
Part of this is an accumulation of stock in areas like the outer suburban fringe, where in the north-west in particular, we’ve seen a bit of a build-up in stock that could be...
Affordability constraints shift buyers’ focus
Lower quartile values are leading growth trend across every capital city except Darwin and Canberra, which are also...
Units are now rising faster than houses across most of the capitals, with Darwin and the ACT the only exceptions, where affordability pressures are less pressing and there are higher supply...
The difference between the median house and unit value in Sydney, for example, is now $620,000, which is almost the price of another unit. So, it makes sense that we’re going to...