CoreLogic survey suggests residential landlords have been inclined to keep rents steady during the COVID-19 pandemic

Plenty of data suggests certain rental markets have deteriorated amid the COVID-19 pandemic. CoreLogic data showed a 0.8% decline in national rent values from the end of March to the end of August, with more acute falls in the unit markets of Sydney and Melbourne, where rent values have fallen 4.2% and 4.4% respectively over […]

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How will stalled net overseas migration impact housing demand?

Recent forecasts from Treasury indicate annual population growth across Australia is set to slow from around 1.4% pre-COVID, to 0.6% through the 2020/21 financial year. In raw numbers, that implies Australia’s annual population growth will reduce from around 350,000in 2019 to 154,000over the year ending June 2021 – a reduction of 56%relative to 2019levels. If […]

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COVID-19 creates an unusual start to the spring selling season

A key takeaway from CoreLogic data amid the pandemic, is that transaction activity slows significantly in response to COVID-19 restrictions. The resulting loss of employment, lower consumer sentiment and border closures have had a much larger impact on the number of properties marketed and sold, than property prices themselves. This was seen from the Stage […]

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Understanding the best performing capital city housing market amid COVID-19

Capital city dwelling values have been affected differently across Australia in the wake of the pandemic. As well as anecdotes of demand in regional lifestyle areas, the ACT dwelling market has been the clear ‘winner’ of the capital cities, increasing 1.3% in value between the end of March and the end of July. This came […]

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Why have the capital cities performed differently amid COVID-19?

Not every Australian housing market has performed the same way since the onset of the COVID-19 pandemic. The latest CoreLogic Home Value Index results revealed that since March, Melbourne property values fell 3.5%. Meanwhile, the ACT dwelling market reached a record high. From June to July, the rate of decline eased across Perth from -1.1% […]

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The impact of stamp duty discounts on the NSW housing market

On the 27th of July, the New South Wales government announced eligible first home buyers could access stamp duty exemptions on new home purchases worth up to $800,000. New home builds will also see stamp duty discounts available for purchases between $800,000 and $1 million, where the discount reduces with a higher purchasing price. The […]

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Who won and who lost in Property

Who won and who lost in property? That’s what Corelogic’s Pain and Gain report tracks. The latest edition analyses approximately 72,500 sales that took place over the first quarter of 2020 and showed that nationally, the portion of profit-making sales in the March quarter fell to 87.7% from 88.7% in the December quarter. Read on […]

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One expert’s interpretation of the record fall in housing finance

Last Thursday’s lending indicator data from the ABS shows the value of new finance commitments for the purchase of dwellings fell by a record 11.6% over May 2020. This is the largest single monthly drop in the 18 year series. In seasonally adjusted terms, it represents a $2.2 billion monthly fall in the value of […]

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Why is Melbourne property leading the downswing?

The July CoreLogic index results show the Melbourne property market is the worst capital city performer since the onset of COVID19. June marked the third consecutive month of value falls across the city. This sees values down -2.3% from the previous quarter, when the market hit a record high. The results may be surprising, particularly […]

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Here’s where the biggest property price falls have been since the onset of COVID-19

The stringent government response to COVID-19 has undoubtedly placed the property market cycle at the cusp of another downswing. So far, property value declines have been fairly mild. Nationally, the May home value index results show that the dwelling market declined just 0.4% over the month, and preliminary indicators for June are showing the rate […]

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