Andrew Skelton. Real Estate Agent. Robina Realty, Qld 4226

10/04/2024

06/04/2024

Congratulations Jon 👏👏

04/04/2024

Congratulations Chris 👏👏

02/04/2024

In today's Pulse, Economist Kaytlin Ezzy delves into the performance of Australia's housing market, examining values and rents across our capital markets and regional areas.

Over the past 12 months, CoreLogic’s Home Value Index has risen 8.9%, adding the equivalent of approximately $63,000 to the national median dwelling value ($765,762) and taking the index to a new all-time high in February.

A recent suburb-level analysis using CoreLogic’s interactive Mapping the Market tool found that 88.4% (4,087) of the 4,625 house and unit markets analysed nationally saw values rise over the year. This is up from just 52.9% of markets studied in July 23 (2,456/4,640), recording positive annual growth and up from the 39.1% assessed in February 2023 (1,851/4,732).

CoreLogic Economist Kaytlin Ezzy says the broad-based capital gains seen over the past year reflect the ongoing imbalance between housing supply and demand, which has helped to counteract the less favourable market and affordability conditions.

“Despite three rate hikes, worsening affordability, and the rising cost of living, the increasingly entrenched undersupply in housing stock, and above average demand thanks to strong net migration, has helped push values higher.”

31/03/2024

27/03/2024

21/03/2024

Research Director Tim Lawless unpacks what today's cash rate decision means for the housing market.

The decision to keep the cash rate on hold at 4.35% came as no surprise, with most economists agreeing the next move on rates will be down, although the timing of an RBA rate cut remains uncertain and dependent on inflation outcomes.

A boost to confidence: Nonetheless, the hold decision, alongside lower inflation and a growing expectation that interest rates will reduce later this year, should help to provide a further lift in confidence.

Historically we have seen a close relationship between consumer sentiment and the volume of home sales. Following the 6.2% rise in the February consumer sentiment reading from Westpac and the Melbourne Institute, a further lift in confidence could be accompanied by a rise in home purchasing. This could add to housing demand that has already remained quite resilient despite the higher interest rate environment and cost of living pressures.