Source:  CoreLogic
CoreLogic August home value index results for the month confirm a slowdown in housing market conditions in Sydney, while Hobart emerged as the country's best performing capital city based on growth in dwelling values over the past twelve months. National dwelling values remained flat during August, with capital city values edging 0.1% higher. Simultaneously, regional dwelling values slipped 0.2% lower.  According to CoreLogic head of research Tim Law...

Source:  CoreLogic   The housing market is gradually responding to higher mortgage rates, tighter credit policies and affordability challenges, with the quarterly trend in capital gains moderating relative to early 2017. According to CoreLogic head of research Tim Lawless, the latest housing market results highlight the diversity of housing market conditions, with dwelling values down over the month in Brisbane (-0.6%), Perth (-1.3%) and Darwin (-1.2%).
Index results as...

Source:  Kieran Clair According to a major analyst, half of Brisbane's off-the-plan (OTP) units could be classed a 'settlement risk.' Speaking at the Australian Property Institute's Brisbane conference today, CoreLogic head of research, Cameron Kusher, said his company tracked the proportion of OTP sales where their independent valuation was lower than their sale price. "In Brisbane, about 50 per cent of those valuations are coming in below the actual ori...

Source:  Bees Nees City Realty The latest stats are out on Brisbane's rental market. The Residential Tenancies Authority records the rent when a new bond is lodged and each quarter we sit down to analyse the results and get a handle on emerging trends. Here's the numbers for the June quarter released this week: Across Brisbane median weekly rent for a 2 bed apartment was down $20 to $400 On average, inner-city suburbs rose $5 to $485/week (after a $5 dip in th...

Source - CoreLogic   According to CoreLogic head of research Tim Lawless, "This stronger month-on-month reading can be partially explained by the seasonality in the monthly growth rates.  Adjusting for this effect suggests an easing trend in housing value growth has persisted through the second quarter of 2017." The June quarter results showed that capital city dwelling values were 0.8% higher across the combined capitals index; the slowest quarterly rate of...

A high concentration of inner-city apartments has caused a chain reaction in the Brisbane rental market, leading to rental yields for detached houses falling more than seven per cent in the past year. Stagnant rents and vacancy rates for the Greater Brisbane region hide a more serious problem investors are now making less returns because of a slow uptake in apartment supply and a correction to the market could be more than a year away. "There's no doubt with the increased sup...

Source:  Eliza Owen, CoreLogic The 2016 Census data reveals how people are dealing with unaffordable housing in the capital cities. While wage growth sits at a record low 1.9% against higher costs in basic needs like housing and health, and consumer confidence hits a 12 month low of 96.23, it is no wonder that people are paying more attention than ever to events such as the Census. A flush of new data gives a clearer perspective of the state of Australian households, and h...

Source:  Domain In 2016, a withholding tax of 10 per cent on the sale of a home by foreign investors was introduced for properties selling at $2 million-plus. That has been reduced to $750,000 sale price as from 01/07/2017 and withholding rate increased to 12.5%. But some expats who do decide to sell their home once they've moved overseas will also be required to pay a chunk of their capital gains to the Tax Office when they sell and lose their main residence capital gai...

Source:  REIQ From 1 July 2017, the withholding tax rules that were introduced last July for properties $2 million and above, will now apply to all property transactions where the market value of the property is $750,000 and above. Although the new laws are aimed at foreign residents, real estate agents must be aware that these new laws impact all property sales at $750,000 and above.  Summary The new laws require a purchaser to withhold 12.5% of the purchase pric...

When we think about the housing market we tend to focus on when values rise but in the recent past values have fallen in each capital city; this week we look at the magnitude and duration of these falls in the past. Throughout the past 20 years it has been much more common for combined capital city dwelling values to have been increasing than falling.  Although value rises have been more common, it doesn't mean that the housing market is bulletproof and in some instances values h...