RESIDENTIAL PROPERTY
WHILE the pace of the housing downturn has been slowing since September, 2023 still presents the risk of a re-energised decline.
According to CoreLogic’s latest annual Best of the Best Report, two distinct characteristics of capital growth trends across 2022 standout...
This after national value declines slowed to -1.0% in November from the monthly falls of -1.6% seen in August.
“More expensive markets tended to see sharper declines, while the more affordable segment of..." said Eliza Owen, head of research at CoreLogic.
The report also showed a sharp shift in Australia’s housing market from 2021 to 2022, with Kaytlin Ezzy, economist at...
While NSW claimed the country’s most expensive suburb for the year, with Vaucluse at $7,943,965, WA had the most affordable suburb at $118,525.
The report’s outlook for 2023 anticipates the rate of decline to pick up steam again as interest rates continue to rise.
“With expectations that the bulk of the rate tightening cycle occurred in 2022, housing value declines could find a floor in the new year. However...
“But unemployment levels remain at historic lows, which plays a role in serviceability, helping to keep a lid on mortgage arrears. On top of...