Each month the CoreLogic Research team puts together a Housing Chart Pack, with all the latest stats, facts and figures on the residential property market, such as the combined value of residential real estate, sales volumes, and the trend in new listings.
- The combined value of residential real estate in Australia climbed to $10.2 trillion at the end of October, up from $10.1 trillion in the previous month.
- National home values rose 2.3% in the three months to October, easing slightly from a recent high of 3.1% in the June quarter.
- Of the capital city markets, Perth had the highest three month growth rate in October, at 4.6% Darwin and Hobart had the lowest three month growth rate at 0.3%.
- CoreLogic estimates there were 40,993 sales in October nationally, compared to a historic five-year average of 44,813 for the month of October.
- The amount of time it takes to sell property trended slightly higher through the three months to October, with the median days on market nationally sitting at 30 days.
- At the median level, vendors are now offering less of a discount on their property. The median vendor discount nationally was -3.6% in the three months to October, up from a recent low of -4.3% at the end of last year.
- In the four weeks to November 5, new listings totalled 43,421 nationally. New listings have trended higher through winter and into the start of Spring, and are now 10.2% higher than a year ago, and -5.4% lower than the previous 5-year average.
- At the national level, there were 155,478 listings observed over the four weeks to November 5. Total listings are gradually lifting off the back of a more substantial rise in new listings, and are 4.2% higher than a month ago.
- The combined capital cities clearance rate averaged 65% in the four weeks to October 29, which was steady on the previous four-week period. However, the week of the 29th saw a marked drop in the clearance rate to 62.9%.
- Australian rent values increased a further 0.7% in October, taking the national annual increase to 8.1%.
- Dwelling approvals fell a further 4.6% in September. Both house and unit approvals continue to trend well below decade averages.
- The value of new housing finance secured rose 0.6% in September, off the back of a 2.4% lift in August. Since February, growth in secured housing finance for investors was 16.0%, compared to 6.1% in owner-occupier lending.
- In this month’s ‘Chart of the Month’, the CoreLogic 12-month turnover rate is sitting at 4.7% nationally, up slightly from a low of 4.67% in August.
Download the Monthly Housing Chart Pack
CoreLogic Australia