House prices record sharpest increase since 2003, CoreLogic says
3 years, 9 months ago

House prices record sharpest increase since 2003, CoreLogic says

ABC  

Australian house prices have posted their sharpest monthly increase since August 2003, with analysts at CoreLogic saying the market is now entrenched in one of its strongest growth phases on record. Key points: Capital city home prices rose 2 per cent and regional prices rose 2.1 per cent in February Sydney and Hobart led the capital city rises, up 2.5 per cent last month CoreLogic says a synchronised growth phase across the nation has not been since since after the GFC in 2009-10 CoreLogic's monthly home value index revealed a 2.1 per cent jump in prices last month, on the back of the average Australian house price returning to record levels in the first month of 2021. The average capital city increase was 2 per cent, with Sydney and Hobart's 2.5 per cent increases the strongest, while regional markets rose an average of 2.1 per cent. Australia's major banks agree, with Westpac the latest to upgrade its house price forecasts for the next two years, tipping 10 per cent gains both this year and next before rising fixed-term interest rates and regulatory restrictions on high debt levels start biting from the second half of 2022. First home buyers played the dominant role, with a 71 per cent increase in loans to this group since January last year.

Growth Record Market Property Prices Capital Interest Rates House Cent Rates Melbourne Sydney Increase House Prices Regional First Home Buyers Corelogic Ms Owen Eliza Owen Buyer Demand Regional Markets New Lending  cent  regional  2003  capital  increase  sharpest  prices  house  corelogic  property  growth  market  sydney  record  rates

History of this topic

What’s really behind the surprise surge in house prices?
3 weeks ago

What’s really behind the surprise surge in house prices?

The Independent  

Sorry to make a soggy start to the week even more miserable, but it brings bad news for homebuyers. Nationwide recently trumpeted itself as the “first major lender to offer first-time buyers ability to borrow six times income, up to 95 per cent loan-to-value”. “The acceleration in house price growth is surprising, since affordability remains stretched by historic standards, with …

Surprise jump in house prices with fastest rise in two years - as experts warn they will continue to increase
3 weeks, 1 day ago

Surprise jump in house prices with fastest rise in two years - as experts warn they will continue to increase

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy House prices made a surprise jump in November, with experts …

National house prices losing steam
3 weeks, 1 day ago

National house prices losing steam

ABC  

Nick Grimm: Housing prices rose nationally by 0.1% last month, but it looks like the market could be losing steam. Elizabeth Cramsie: Joe White is a real estate agent in Dunsborough in Western Australia. Elizabeth Cramsie: While rate cuts are expected at some point next year, he's not convinced it will bump up prices again. Elizabeth Cramsie: Real estate agent …

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows
3 weeks, 1 day ago

House prices rise just 0.1 per cent in weakest result since January 2023, CoreLogic data shows

ABC  

National home prices are losing momentum and anticipated interest rate cuts are unlikely to stop falls in house prices next year. New CoreLogic data shows house prices increased 0.1 per cent nationally in the last month of spring — the weakest Australia-wide result since January 2023. Brett D'Souza says he "made mistakes" when he tried to sell his home without …

Sydney and Melbourne house prices predicted to fall next year as Perth leads nation in value growth
4 weeks, 1 day ago

Sydney and Melbourne house prices predicted to fall next year as Perth leads nation in value growth

ABC  

House prices in Sydney and Melbourne are set to decline further in 2025, while Perth is likely to experience the strongest growth among Australia's capital cities, according to SQM Research's latest Boom and Bust Report. City 2025 housing price forecast Perth +14% to +19% Brisbane +9% to +14% Darwin +5% to +8% Melbourne -5% to -1% Sydney -5% to -1% …

Why house prices are starting to fall
1 month, 3 weeks ago

Why house prices are starting to fall

ABC  

Sam Hawley: All focus this week will of course be on the US election and we'll be bringing you plenty of coverage. I mean, you know, what we've seen on a longer term perspective back, you know, I don't know, ever since I've been looking at it, you know, since the 60s or 70s, there's always been an ever increasing …

Housing market ‘is reviving’ amid growth in house prices and mortgage approvals
2 months, 3 weeks ago

Housing market ‘is reviving’ amid growth in house prices and mortgage approvals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “These trends have helped to improve affordability for prospective …

Mortgage approvals for house purchase jump to two-year high in August
2 months, 3 weeks ago

Mortgage approvals for house purchase jump to two-year high in August

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Remortgage approvals also picked up after a dip in …

Number of house sales was 5% higher in August than a year earlier
2 months, 3 weeks ago

Number of house sales was 5% higher in August than a year earlier

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Holly Tomlinson, a financial planner at wealth manager Quilter …

CoreLogic data suggests cost of buying a house in Canberra is stabilising as units decrease in value
3 months, 3 weeks ago

CoreLogic data suggests cost of buying a house in Canberra is stabilising as units decrease in value

ABC  

The latest data on home values suggests the cost of buying a home in Canberra is stabilising. Only Sydney is a more expensive city for houses, with Canberra's median value just shy of $968,000, a dip of 0.3 per cent in the last month. The data suggested Canberra's units, however, are decreasing in value, down 2.3 per cent over the …

CoreLogic house price data shows home values still rising but growth is slowing
3 months, 3 weeks ago

CoreLogic house price data shows home values still rising but growth is slowing

ABC  

In what will be disappointing news for first home buyers, Australian house prices have continued to rise over the past month, according to new data. Average dwelling values climbed by 0.5 per cent in August, the 19th consecutive monthly increase in house prices tracked by CoreLogic's Home Value Index. Australia's capital cities were evenly split on house price rises and …

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?
5 months, 2 weeks ago

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?

Associated Press  

LOS ANGELES — The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall. The weak spring sales are a reflection of the affordability challenges many home shoppers face: the average rate on a 30-year mortgage rate is moored near 7%; the supply …

Market for newly built homes slows as elevated mortgage rates put off many home shoppers
5 months, 3 weeks ago

Market for newly built homes slows as elevated mortgage rates put off many home shoppers

Associated Press  

LOS ANGELES — Homebuilders who bucked the worst of last year’s housing slump may be seeing their luck run out. The recent slowdown in new home sales marks a shift from last year, when sales rose nationally for the first time in two years, climbing 4.2% from a year earlier. As last year, homebuilders have lowered prices and offered incentives …

'RBA to hike in August', says investment bank as property market pushes on up
5 months, 3 weeks ago

'RBA to hike in August', says investment bank as property market pushes on up

ABC  

In short: The Australian property market will remain robust this year and next, according to several analysts. Australian property prices are expected to increase by as much as 5 per cent in calendar year 2024, according to the June PropTrack Property Market Outlook Report. "We got capital cities a little stronger at 6 to 7 per cent for the 2024 …

Home owners selling up and making hundreds of thousands of dollars
5 months, 4 weeks ago

Home owners selling up and making hundreds of thousands of dollars

ABC  

In short: Median profit made on a home sale was $265,000 in March quarter. Australian property resales reached their highest rate of profitability, since July 2010, in the first quarter of the year, according to CoreLogic's Pain & Gain, March Quarter 2024 report. "Despite the slight drop off in the median nominal gain, the rate of sellers making a profit …

Extraordinary rise in value of Aussie homes - here are the states with the largest jumps
6 months, 1 week ago

Extraordinary rise in value of Aussie homes - here are the states with the largest jumps

Daily Mail  

The combined value of Australian residential dwellings soared to a record $10.7trillion in the March quarter, according to new Australian Bureau of Statistics data. On Tuesday, the ABS reported that the total value of homes in Australia rose by $209.4billion in the first quarter of 2024, bringing the average home value to $959,300, up $14,300 in just three months. Across …

CoreLogic house price data show Brisbane overtaking Melbourne and Canberra as Australia's second priciest city
6 months, 3 weeks ago

CoreLogic house price data show Brisbane overtaking Melbourne and Canberra as Australia's second priciest city

ABC  

In short: CoreLogic data shows property prices grew by 0.8 per cent during May, making it the largest monthly increase since October last year. CoreLogic data shows property prices grew by 0.8 per cent during May, making it the largest monthly increase since October last year. However, Brisbane has now become the second-most expensive city for housing in the country, …

CoreLogic reports record-high rents across Australia's biggest regions as WA and Queensland tops list
6 months, 3 weeks ago

CoreLogic reports record-high rents across Australia's biggest regions as WA and Queensland tops list

ABC  

The promise of fleeing the high cost of living in Australia's capital cities and finding reprieve in the regions is fast evaporating, with rental prices in nearly every part of the country hitting record highs. Batemans Bay in New South Wales had the biggest increases over the past three months, with rents going up the equivalent of $32 a week, …

Latest figures show huge change to Australia's property market compared with a year ago
6 months, 4 weeks ago

Latest figures show huge change to Australia's property market compared with a year ago

Daily Mail  

Homeowners are becoming more confident about putting their properties on the market, with the latest figures showing 40 per cent more homes available than there were 12 months ago. The latest PropTrack listings report revealed the Aussie property market saw the strongest new listings for the month of April since 2021 'If we look in Sydney and Melbourne, the number …

Has the great Australian dream of affordable home ownership turned to a nightmare?
8 months, 2 weeks ago

Has the great Australian dream of affordable home ownership turned to a nightmare?

ABC  

Almost everyone recognises the problem. A recent study by the US Federal Reserve Bank of Dallas found that while higher rates since 2021 had made life tougher for home buyers, affordability would have been even worse if rates hadn't risen because housing prices would have risen more. Since the turn of the century, lower interest rates have allowed home buyers …

Where in Australia house prices are surging the most... and the so-called 'affordable' market where prices climbed by just $140,000
8 months, 3 weeks ago

Where in Australia house prices are surging the most... and the so-called 'affordable' market where prices climbed by just $140,000

Daily Mail  

House prices in Australia's capital cities have surged by up to 20 per cent in the past year as immigration hit an all-time high. In Perth, the median house price has surged by 20 per cent during the past year to $735,276 to still be Australia's most affordable mainland state capital city market, new CoreLogic data showed CoreLogic research director …

House prices continue to rise despite higher interest rates, inflation and cost of living
9 months, 3 weeks ago

House prices continue to rise despite higher interest rates, inflation and cost of living

ABC  

In short: Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. "It's pretty unusual for economic conditions to be so weak but the housing market showing this really strong trend," CoreLogic's …

Is this the 'magic' mortgage rate that will kickstart the housing market? Fascinating study reveals rate that could finally spur the majority of aspiring homeowners into buying
9 months, 3 weeks ago

Is this the 'magic' mortgage rate that will kickstart the housing market? Fascinating study reveals rate that could finally spur the majority of aspiring homeowners into buying

Daily Mail  

After the Federal Reserve started lifting interest rates in March 2022, mortgage rates followed suit - and home sales have faltered since. Fixed 30-year mortgage rates are now hovering around 6.9 percent after reaching a 22-year high of 7.8 percent in October, according to Government-backed lender Freddie Mac. Some 72 percent out of 5,000 potential home buyers said they pulling …

Average long-term US mortgage rose again this week to highest level since mid December
10 months ago

Average long-term US mortgage rose again this week to highest level since mid December

Associated Press  

LOS ANGELES — The average long-term U.S. mortgage rate rose this week for the third time in as many weeks, driving up home loan borrowing costs in just as the spring homebuying season ramps up. The average rate on a 30-year mortgage rose to 6.90% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. “Strong incoming economic and inflation …

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
10 months ago

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association of Realtors said Thursday. “While home sales remain sizably lower …

Price gap between houses and apartments widens to new record as land values surge in capital cities
10 months ago

Price gap between houses and apartments widens to new record as land values surge in capital cities

ABC  

In short: CoreLogic data shows the price gap between apartments and standalone houses has widened by 45 per cent since March 2020 and January 2024. "It's not like this is just Sydney or Melbourne pushing the numbers around, it's happening across every capital city to some extent," Mr Lawless said. Mr Lawless said the widening gap between house and unit …

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city
10 months, 2 weeks ago

Property values have risen for 12 straight months. Here's how much prices have lifted or fallen in each capital city

ABC  

Three capital cities continue to power the national property market, with prices rising by 0.4 per cent in January to start off the new year. Brisbane Monthly change: 1 per cent increase 1 per cent increase Brisbane median house value: $888,628 $888,628 Median unit value: $568,595 It was the pockets on the outer fringe of Brisbane that recorded the biggest …

Home prices jumped by the most in almost a year in November, this closely watched barometer says
10 months, 3 weeks ago

Home prices jumped by the most in almost a year in November, this closely watched barometer says

Associated Press  

LOS ANGELES — A closely watched housing market barometer shows U.S. home prices in November posted their biggest annual gain in more than a year. A tight supply of homes for sale nationally has kept upward pressure on home prices despite a severe housing market slump deepened by a sharp runup in mortgage rates last fall. “That suggests pivoting of …

House prices rose in January and are anticipated to keep going up if rates come down
10 months, 3 weeks ago

House prices rose in January and are anticipated to keep going up if rates come down

ABC  

House prices are on track to continue rising across the country, propelled by renters and migrants wanting to buy their own homes and buyers trying to get in ahead of interest rate cuts expected later this year. Data from CoreLogic shows that house prices rose nationally, up 0.4 per cent in the month of January, and 8.7 per cent across …

Housing Boom and Bust Report tips property price to fall in 2024 as interest rates weigh
1 year, 1 month ago

Housing Boom and Bust Report tips property price to fall in 2024 as interest rates weigh

ABC  

Australian real estate is set for a double-dip downturn, according to a leading analyst, as interest rates finally weigh on property prices and for-sale listings surge. Key points: SQM Research is forecasting flat to falling home prices for most cities except Perth and Brisbane in 2024 High interest rates, rising unemployment and an increase in distressed sales are expected PropTrack …

Property prices across most of Qld reach record highs after post-COVID tumble
1 year, 1 month ago

Property prices across most of Qld reach record highs after post-COVID tumble

ABC  

Homes in almost every part of Queensland are now worth more than ever before, even surpassing the post-COVID records set in early 2022 after years of booming prices. Key points: Property prices in almost every part in Queensland are now higher than ever, overtaking COVID-era peaks Analysts say a combination of affordable regions and fewer homes on the market is …

National home prices rise to be just half a per cent off last year's historic high
1 year, 1 month ago

National home prices rise to be just half a per cent off last year's historic high

ABC  

National home prices accelerated their growth in October, rising 0.9 per cent for the month, according to CoreLogic data. "At this rate of growth, we will see the national HVI reach a new record high midway through November, recovering from the 7.5 per cent drop in values recorded over the recent downturn between May 2022 and January 2023," said CoreLogic's …

Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent
1 year, 2 months ago

Buying a home is now 52% MORE expensive than renting one, new analysis finds, with typical mortgage payment $1.1K higher than rent

Daily Mail  

Americans buying property are now paying 52 percent more on mortgage payments than the average cost of renting a home - the highest premium for buying since at least 1996. The average cost of a new lease for a family home was around $2,184 in the third-quarter of this year, according to research by real estate intelligence firm CBRE In …

UK house prices have proven more resilient than expected, says Halifax
1 year, 2 months ago

UK house prices have proven more resilient than expected, says Halifax

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Many economists and financial markets predict that base rate …

Property values are tipped to reach a new high. Here's how much prices have risen in each capital city
1 year, 2 months ago

Property values are tipped to reach a new high. Here's how much prices have risen in each capital city

ABC  

With Australia's median property value set to hit a new peak by the end of 2023, what does that mean for where you live? Adelaide Monthly change: 1.7 per cent increase Adelaide median house value: $742,909 Median unit value: $464,414 The September quarter saw Adelaide recording the highest capital gain at 4.3 per cent, pipping out Brisbane and Perth. Brisbane …

Australia's housing divide masks real interest rates pain
1 year, 3 months ago

Australia's housing divide masks real interest rates pain

ABC  

If it feels like we're in uncharted territory when it comes to keeping a roof over your head, you're right. So by splitting that line out into the different groups of people it represents, you can see that it's the increase in mortgage costs that has driven housing costs to record highs. If you only look at the typical housing …

House buyers are borrowing more, as market settles: Hypotheker
1 year, 4 months ago

House buyers are borrowing more, as market settles: Hypotheker

Dutch News  

The average mortgage taken out by clients of the Hypotheker advisory group was up 4% in July when compared to last year which is another indication that the market may be turning, the company said on Friday. The company also reported a 12% increase in mortgage requests in the first quarter compared with the last three months of 2022 and …

Average mortgage amount rising after 14 months of decline; Highest since April 2022
1 year, 4 months ago

Average mortgage amount rising after 14 months of decline; Highest since April 2022

NL Times  

The average mortgage amount for purchasing a home rose by 4 percent in July compared to last year to 321,818 euros. That is the highest level since April 2022, according to figures from De Hypotheker. According to De Hypotheker, this indicates that the housing market may be gradually recovering despite the rise in mortgage interest rates. The housing supply increased …

Interest rate pause no help for regional Victorian home owners selling properties as repayments increase
1 year, 5 months ago

Interest rate pause no help for regional Victorian home owners selling properties as repayments increase

ABC  

Bronte Harrop has decided she cannot afford to be a home owner, despite having a stable full-time job where the 27-year-old earns above-average income. Key points: Interest rates being held this month provides little relief for struggling home owners and renters One couple has lost tens of thousands of dollars on the sale of their home Regional house prices have …

First-home buyers could be spending 40 per cent of their incomes on mortgages if interest rates rise twice more
1 year, 5 months ago

First-home buyers could be spending 40 per cent of their incomes on mortgages if interest rates rise twice more

ABC  

New information from the Australian National University shows that first-home buyers could end up putting 40 per cent of their incomes towards mortgage repayments if interest rates rise twice more this year. Professor Phillips said if that happened, far more first-home buyers and those on lower incomes could be placed under mortgage stress. Professor Phillips said his projections showed, for …

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal
1 year, 8 months ago

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal

Daily Mail  

A worrying number of young Australians have given up on ever owning their home, a new survey has found. A Resolve Political Monitor poll published on Monday showed 54 per cent of respondents on middle incomes and 63 per cent in the low income bracket think they will never be able to afford their own home. Sydney's median house prices …

Low-cost homes hit by rate hike spree
1 year, 9 months ago

Low-cost homes hit by rate hike spree

Live Mint  

Fewer customers are taking out loans to buy so-called affordable homes after several back-to-back interest rate hikes, with demand slackening sharply in the last few months, according to senior bankers and data analyzed by State Bank of India’s research wing. Bankers said moderating demand is the intended consequence of the Reserve Bank of India trying to slow stubbornly high inflation …

Blow for first-time buyers as mortgage repayments surge by two thirds
1 year, 9 months ago

Blow for first-time buyers as mortgage repayments surge by two thirds

The Telegraph  

The cost of a typical first-time buyer's mortgage repayments jumped by almost two thirds last year as families were stung by rising interest rates and a boom in house prices. Buyers purchasing a typical semi-detached house were hit with a £481 increase in their payments in the 12 months to December 2022, according to the Office for National Statistics. A …

House price falls ease in February with Sydney posting a rise as real estate listings dry up
1 year, 9 months ago

House price falls ease in February with Sydney posting a rise as real estate listings dry up

ABC  

A lack of properties for sale and the first rise in Sydney home prices in more than a year have stabilised real estate values across the nation. Key points: The CoreLogic home price index fell 0.1 per cent nationally in February, the smallest fall since May 2022 Sydney home values rose for the first month since January 2022 Westpac is …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Priced out: young people needing housing face a closed door
1 year, 10 months ago

Priced out: young people needing housing face a closed door

Dutch News  

The papers are full of news about house price movements, new political drives and house building plans. Delft university housing systems professor Peter Boelhouwer calls it a ‘wicked’ market, where first time buyers and those on mid-level incomes get stuck in ‘a big poverty gap/trap.’ By 2022, he says, a two-income couple on an average income needed savings of €280,000 …

Australian home values see largest decline in recent memory, new data shows
1 year, 11 months ago

Australian home values see largest decline in recent memory, new data shows

ABC  

Homes around Australia have lost an estimated average of $64,820 in value since May last year according to CoreLogic's Daily Home Value Index. Key points: Australian home values have seen their biggest decline since 2019 Sydney, Brisbane and Melbourne home values are seeing the largest downturn Experts expect values to keep declining into 2023 Between May 2022 and January 2023, …

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023
1 year, 11 months ago

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023

ABC  

It's the question that most Australians want an answer to. Signs of a weaker housing market: property listings are 'abnormally low' Economists had been predicting a 15–20 per cent fall in property prices since the Reserve Bank started increasing interest rates in May. Shane Oliver says with house prices already down by about 8 per cent from their pandemic high, …

What Australia's housing market has been doing over the past year
1 year, 11 months ago

What Australia's housing market has been doing over the past year

ABC  

Few sectors of the economy are as sensitive to interest rates as the property market. The fall in national values was largely driven by capital city dwelling values dropping 5.2 per cent, while regional dwelling values rose 3.3 per cent over the same period, CoreLogic figures show. Economist Maree Kilroy expects further rate hikes in early 2023, with the cash …

Sydney, Melbourne real estate: Why house prices could rise in 2023 even with interest rates rising
1 year, 11 months ago

Sydney, Melbourne real estate: Why house prices could rise in 2023 even with interest rates rising

Daily Mail  

House prices could rise again in 2023 even if interest rates keep going up because rental vacancy rates are tight and immigrants are moving to Australia. House prices could rise again in 2023 even if interest rates keep going up because rental vacancy rates are tight and immigrants are moving to Australia House prices expected to rise again in 2023 …

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