Source: Domain House and unit prices are at new record highs House prices reached a new record high at $792,065, after leaping 10.7 per cent over the quarter and 25.7 per cent annually, the steepest increase in almost 18 years. For the first time since mid-2016 unit prices are at a new record high of $416,033, after rising 2 per cent over the quarter and 3.5 per cent annually. House prices have risen seven times faster than units over the past year. This is the largest divergence on rec...

Source:  CoreLogic Australian housing values grew 22.1% last year and the market is showing signs this extraordinary rate of growth – not seen since the 1980s – is slowing across most of the capital cities. Yet as the rate of dwelling value appreciation slows, capital city and broad ‘rest of state’ markets are yet to peak, causing plenty of speculation about whether this will occur in 2022 and mark the start of a downturn.  CoreLogic’s Research Direc...

Source: PEXA Insights This month's highlights: Both NSW & VIC bounced back after 4-months of declining sale settlements, recording growth of 15.4% and 7.9% respectively The QLD market continued to charge ahead, with sale settlements up 13.7% for the month, recording a new high Refinances continued to trend significantly above levels seen in 2020, across the country Monthly Settlement Insights - QLD - December 2021 Highlights: Sale settlements Sale settlements in Nov-21 were...

Source: IVSC - Perspectives Paper The IVSC has issued this Perspectives Paper in a series designed to initiate discussion and debate on the topic of market value. IVS (Effective 31st January 2022) Cost(s) (noun): The consideration or expenditure required to acquire or create an Asset. Price: The monetary or other consideration asked, offered or paid for an Asset, which may be different from the Value. Value (noun): The opinion resulting from a valuation process that is compliant with IVS...

Source:  Australian Property Journal THE growth rate for capital city dwelling prices across the country are set to peak in the first half of 2022 before steadying thanks to stricter lending regulations. According to SQM Research’s Christopher’s Housing Boom and Bust Report 2022, rising prices are anticipated to slow and even begin to decline, with further intervention from the Australian Prudential Regulatory Authority (APRA) expected in the new year. “As 2021 draws...

Source:  CoreLogic A surge in new builds and renovations coupled with supply chain disruptions and a shortage of materials has resulted in an unprecedented spike in construction costs.

CoreLogic’s quarterly measure of residential construction costs reveals a national increase of 3.8% was recorded in the three months to September 2021, outpacing the Consumer Price Index of 0.8% for the same period. 

The Cordell Construction Cost Index (CCCI), formerly known as the Corde...

Source:  Australian Property Journal RENTAL vacancy rates fell to 1.6% over October, with Sydney and Melbourne pulling the country down to this decade low. According to the latest data from SQM Research, the national residential property rental vacancy rate fell from 1.7% in September or 59,953 vacancies to 59,345 vacancies a rate not seen since March 2011. Perth, Adelaide, Canberra and Darwin remained largely steady and below 1.0%, at 0.6%, 0.6%, 0.8% and 0.7% respectively. While Sy...

Source:  REIQ Journal Queensland’s tight residential vacancy rates appear to be stabilising with minimal movement over the last quarter, according to the REIQ’s September 2021 Vacancy Report released today. Of the 50 local government areas and sub regions covered in the report, vacancy rates fell in 20 areas, remained the same in 17 and climbed in 13 compared to the previous quarter. However, movements up or down in most areas were confined to a minimal 0.1%. Maranoa reco...

Source:  CBP - Insights There have been two recent important New South Wales (NSW) Court decisions in respect of native title in the context of the compulsory acquisition of land. The emergence of these types of claims will need to be assessed and dealt with by the Courts in the years ahead. In anticipation of an increase of these types of claims, the Valuer-General of NSW has released a draft paper on valuing cultural heritage land (Draft Paper) under the Land Acquisitio...

Source:  Australian Property Journal NATIONAL listings were at their lowest level more than 10 years in August, with locked down cities Sydney, Melbourne and Canberra leading the fall. According to the latest data from SQM Research, national listings over August fell by 9.6% to 215,911, compared to 238,834 in July. Reflecting the lowest volume of listings since SQM began recording in January 2010. National listings were also down 26.3% compared to this time 12 months ago, with Sydney,...