RESIDENTIAL PROPERTY
NOVEMBER saw the value of residential real estate reach an estimated $10.3 trillion, after dwelling values climbed 0.6% across the combined capitals...
According to CoreLogic’s latest Housing Chart Pack, residential real estate was up from $10.2 trillion to $10.3 trillion at the end of November, even with monthly growth across the...
The housing growth trajectory across the combined capitals slowed after the interest rates continued their climb last month, while affordability continued to diminished and...
Perth led the capitals in growth performance over the month, up 1.9%, with 13.5% of growth in home values in the year to November and 5.4% growth in the three months to November
Brisbane home values were up 1.3%, with dwelling values up 3.9% for the quarter and 10.7% over the last year. Adelaide home values were up 1.2% over...
While Sydney’s dwelling values were up a more minor 0.3% over the month, 1.8% for the quarter and 10.2% for the year to November, sitting 1.9% below the city’s record...
In Melbourne, dwelling values were down 0.1%, reflecting a quarterly increase of 0.6%, an annual increase of 3.0% and sitting 3.8% below the March 2022 record high...
Hobart also recorded a value decline over the month, down 0.1%, but up 0.1% for the quarter and down 3.0% for the year. Hobart’s dwelling values are now sitting...
Over November, Darwin’s dwelling values were down 0.3%, down 0.7% for the quarter and 1.5% for the year. Reflecting a decline of 7.8% from the city’s record high in...
Finally, in Canberra, dwelling values were up 0.5% in November, 1.1% for the quarter and down 0.3%. Canberra’s current dwelling values are now 6.3% below the...
At the same time, annual rent changes were mixed across cities and dwelling types. With the majority of unit markets recording a slowdown in the annual rate of growth over...
Rent values may be elevated but gross rent yields slowed slightly from 3.70% in September to 3.69%. With yields at 3.5% for the combined capitals and 4.4% for the...
Meanwhile, national rental vacancy rates were up slightly over November, but the market leaves renters with limited options as the country heads into peak season...
“While rental market conditions remain extremely tight, they eased in November, with the vacancy rate increasing 0.04 ppt to 1.07%,” said Paul Ryan, senior economist at PropTrack...
Sydney’s vacancy rate was up 0.16% to 1.28% for the month, with Melbourne up 0.03% to 1.16%, Brisbane up 0.02% to 0.88%, Adelaide up 0.03% to 0.7%, Perth up...
“Over the past year, Sydney (–0.27 ppt) and Melbourne (-0.44 ppt) have seen the sharpest falls in available rentals, placing exceptional pressure on renters.”...
“Despite the easing, vacancy rates have trended down for over three years following strong rental demand and a slowdown in new construction. Conditions will...