This month’s chart pack has been written by the CoreLogic Research Team. Also included below is a detailed overview on the key findings covered in this month’s report.
Monthly highlights
- The combined value of residential real estate in Australia climbed to $9.8 trillion at the end of February, up from $9.7 trillion in the previous month.
- Dwelling values in Australia are 20.6% higher over the past 12 months, which is down from the recent high of 22.4% in the 12 months to January.
- The highest annual growth rate in dwelling values among the regional and capital city dwelling markets was across Brisbane, at 29.7%. The lowest rate of appreciation in values was across Regional NT, at 7.1%.
- Lower value segments continue to firmly lead growth. In the three months to February, capital city homes saw the top quartile of values rise 0.8%, compared to 3.4% across the lowest quartile of values.
- Sales volumes rose 37.7% in the 12 months to February, to an estimated 650,175. Transaction volumes through the month of February remained elevated at an estimated 57,427, which is 46.1% above the previous five-year February average.
- Properties are taking slightly longer to sell at the national level, as new listings volumes rise. In the three months to February, the median number of days on number was recorded at 30, up from a recent low of 21 days in the three months to December.
- Discounting levels are around record lows, reflecting strong selling conditions. However, vendor discounting has deepened slightly across the combined capital city market in recent months, to -3.2%.
- More advertised stock is being added to the market than usual. At the national level, the four weeks to March 6th saw new listings trend 4.8% higher than the equivalent period of 2021.
- At the national level, total listings remain well below the average for this time of the year, as high sales volumes have seen around 1.2 sales for every new listing added to the market in recent months.
- Clearance rates averaged 72.4% in the four weeks to February 27th, down from 78.8% in the equivalent period of 2021. Clearance rates are expected to trend lower amid softer housing value growth.
- In the year to February, Australian rent values increased 8.7%, which was down from a recent cyclical high of 9.4% in the 12 months to November.
- Detached house approvals fell -17.3% through January, following a surge in approvals between August 2020 and December 2021. Unit approvals totaled 4,045 in January, which is the lowest read since July 2012.
- Lending for property purchases reached a new record high through January 2022 (at around $33.7 billion). This included a record $11 billion to investor purchasers. Despite these record highs, growth in lending slowed to 2.6% through the month, down from 4.4% in the previous month.
Download the Monthly Housing Chart Pack
Detailed housing and mortgage market statistics CoreLogic produces an advanced suite of housing market analytics that provides key insights for understanding housing market conditions at a granular level. Granular data is often used for portfolio analysis and benchmarking, risk assessments and understanding development feasibility and market sizing. It gives industry professionals valuable modules which provide essential analytics and insights for decision making and strategy information within the residential property asset class. CoreLogic can tailor reports to suit your business requirements. For more information contact your CoreLogic account manager or email research@corelogic.com.au.
CoreLogic Australia