October 2024 Property update. “Australian property market reaches $11 trillion as national price growth slows.” CoreLogic Australia.

Our Sydney and Northern Beaches Property Specialist Cameron Porter, from Porter House Buyers Agency, has unpacked the latest data from CoreLogic Australia in a YouTube Video for THE EXPATRIATE Community. Here are the key takeaways;

• The Australian residential property market reached a record $11 Trillion in September.

• The annual pace of growth has slowed to 6.7% for the past 12 months, down from the high of 9.7% in the 12 months to March.

• Sydney, Brisbane, Adelaide, and Perth dwelling values are currently high. Perth had the highest monthly, quarterly, and annual dwelling value increase, while Adelaide has overtaken Brisbane as the second-strongest capital city market nationally.

• In September, Sydney increased by 0.2%, Brisbane by 0.9%, and Perth by 1.6%. Melbourne is continuing to fall. 

Is the Australian rental boom ending?

The latest CoreLogic Australia Property Pulse data indicates the rental boom is ending. Rental demand weakened in July and August due to lower demand from reduced migration and affordability issues, which caused changes in household formation. New building developments and Investor activity also increased, helping to ease the pressure on rents.

Why is it hard to value a property?

Valuing property in today's market is extremely challenging, even for real estate agents, who are sometimes accused of underquoting. So, is it underquoting? We would argue it isn't. Rather, it's the result of undersupply and high demand in certain market pockets. For instance, last week in Surrey Hills, a property with a quoted range of $2,000,000 to $2,200,000 saw a heated auction with over 20 bids, ultimately selling for $2,737,000. While the property sold well above the quoted range, the real estate agent wasn’t intentionally underquoting;

Cut through all the hype surrounding the housing market, and ensure you are well-informed before you go house hunting this weekend. Discover the Peaks and the Troughs of each capital city’s real estate landscape before you embark on your house-hunting journey with the latest information and explore how much stock is currently available in your chosen capital city, if there is vendor discounting to put you in the best possible position when purchasing or selling your next property. You can find this invaluable information conveniently compiled in the easy-to-follow CoreLogic Australia Media pack, which can greatly aid your decision-making process and help you make smart decisions. The media includes the following data:

• 3 Month Rolling Averages for each capital city, with housing cycles.

• Sales Volumes for each Annual transaction

• Median days on the market

• Vendor Discounting

• Listings in each region and why it is putting pressure on or discounting prices.

• Weekly auction clearance rates.

• Rental markets and Rental Yields.

• Dwelling Housing approvals

• Finance and lending, including investor lending and first home buyers, housing credit

• Chart of the month.

Thank you, CoreLogic, for sharing your Home Value Index Report with our community. The key points from the report are below.

Australian house prices rose by 0.7% in June, totalling an 8% increase for FY2023-24. This equals a $59,000 rise to a typical house price of $794,000. The yearly increase sharply differs from the -2% fall in FY2022-23. In that period, values dropped by 7.5% nine months after May 2022 due to higher cash rates. Despite the yearly increase, growth rates have slowed since mid-2023, with the recent June quarter seeing a 1.8% increase, similar to last year's March and December quarters. Here is the monthly change for each capital city and regional area;

• Sydney +0.5% and REG NSW +0.3%

• Melbourne -0.2% and REG VIC -0.3%

• Brisbane +1.2% and REG QLD +1.0%

• Adelaide +1.7% and REG SA +1.3%

• Perth +2.0% and REG WA +1.5%

• Hobart +0.1% and REG TAS +0.7%

• Darwin 0.0% NA

• Canberra +0.3%

TE “Cheat Notes” from the CoreLogic HVI March 2024.

Housing values recorded a subtle re-acceleration in February as sentiment improved. The month saw a broad-based rise in housing values, reflected positively in CoreLogic's national Home Value Index (HVI) with a 0.6% increase. This upturn signals a potential shift in the real estate landscape for the better.

A dormant market with signs of a strong spring selling season.

Lauren Staley, Managing Director of Infolio Property Advisors, shares her insights about the upcoming Spring Market.

Your Empire Property Market Update March 2023.

THE EXPATRIATE Property Specialist, Lauren Staley Infolio Property Melbourne, Chris Gray Your Empire Sydney, Zoran Solano, and Hot Property Buyers Agency Brisbane share insider market updates and tips for buyers and vendors in their YouTube Video with us. Here are there key points below;

CoreLogic Home Value Index (HVI) February 2023 - Have we hit the bottom?

CoreLogic’s Home Value Index (HVI) for February recorded a sharp reduction in the rate of decline through February.

The Housing Value Index (HVI) weakened with CoreLogic’s national Home Value Index falling -1.1% in December, taking values -5.3% lower over the 2022 calendar year.

Melbourne, Sydney, Adelaide and Darwin all re-acceleration their downward trend led by Sydney -1.4% and Melbourne with a decline of -1.2% fall for the month. The biggest downturn was still in Brisbane, however with a slowing of the dip from -2% in November to -1.5% in December.

Our Brisbane Based Property Specialist, Zoran Solano shares a case study with us about a Bargain Buy in the trendy Nundah about 10km North of Brisbane.

Let us take you back…

It was mid-2021 Zoran and the Hot Property Buyers Agency team were searching for a new investment opportunity for one of their repeat clients. The instructions were clear — it didn't matter if the property required renovations or a bit of extra love; the goal was to find a solid property with hidden potential. After searching high and low for the perfect opportunity, they found an absolute cracker.

We have four expert perspectives sharing their opinions about the Australian Property Market. First up from Buyers Agents Chris Gray Your Empire Sydney, Lauren Staley infolio Melbourne, Zoran Solano Hot Property Buyers Agency Brisbane and CoreLogic’s Research Director Asia Pacific Tim Lawless.

CoreLogic Home Value Index (HVI) Report is out, and it has recorded six months of falls for Australia’s residential property market. Here are our six key points below;

National Decline in HVI Has Slowed.

South Australia and Adelaide are showing resilience to the recent interest rate rises as housing affordability becomes the main driver of growth in the current market.

CoreLogic - Tim Lawless, Executive, Research Director, Asia-Pacific, shares his insight on the housing market and what stage of the cycle we are currently in.

Corelogic Auction Clearance Rates

We have the CoreLogic Australia Auction Clearance rates for this week in September. There were 2,190 auctions held across the combined capital cities this week, up from 1,918 over the previous week and 1,672 this time last year making it the busiest auction week since late June. Overall auctions were up from 1672 in 2021 to 2190 in 2022.

“Australian dwelling values fell by -1.3% in July, marking the third consecutive month CoreLogic’s national Home Value Index has fallen. After national dwelling values surged 28.6% through the pandemic growth phase, values are now -2.0% below April’s peak.”

Tim Lawless - CoreLogic Australia

Why the property market will not collapse because of rate hikes.

We chatted to Michael Cleary our Property Growth Specialist from Milk Chocolate Property to share his thoughts on the recent interest rate hikes and their impact on the property market.

CoreLogic Home Value Index Report June.

"CoreLogic Home Value Index records the first national fall since September 2020, as declines accelerate across Sydney and Melbourne in May" -

What are the benefits of investing in Australian Property?

The Australian property market has boomed through the global pandemic with record financial gains over the past few years. Australia has seen a safe place to invest in property. Australians desire property like no other nation; here are some key points to why it is beneficial to purchase property in Australia.