Real estate correction, not crash, forecast as house prices fall: CoreLogic
7 years, 10 months ago

Real estate correction, not crash, forecast as house prices fall: CoreLogic

ABC  

One of Australia's leading property analysts is predicting price falls of up to 10 per cent in the east coast capitals as the housing boom starts rolling over. Key points: Property prices in Sydney fell by 1.3pc in May, Melbourne by 1.7pc Nationally, property prices down 1.1pc in May, up by 0.4 per cent over past three months CoreLogic's Tim Lawless says May is a seasonally weak month, but a 2-10pc price fall from peak to trough is likely The latest property price figures from CoreLogic point to a fall nationally during May, led by the previously booming markets of Sydney and Melbourne. "If we adjust for seasonality in our series, it looks like the monthly result is probably up about 0.1 per cent and the quarterly result probably 1.3 per cent," he said. Sydney 'more exposed' to housing market 'correction' Mr Lawless observed that Sydney, which had seen the steepest price growth of around 75 per cent over the past five years, was showing the strongest signs of weakening.

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History of this topic

How Australia's housing market spun out of control — and what we can do to fix it
3 weeks, 2 days ago

How Australia's housing market spun out of control — and what we can do to fix it

ABC  

Property investment is ingrained in the Australian psyche, but is it too easy to cast landlords as the villain in our housing crisis? The bank regulator, Australian Prudential Regulation Authority or APRA, under the leadership of Wayne Byres, threw cold water on another investor-led housing boom in the mid-2010s by using "macroprudential tools", such as limits on investor lending growth …

House prices across Australia remain steady in January and Melbourne becomes 'buyers' market'
1 month, 4 weeks ago

House prices across Australia remain steady in January and Melbourne becomes 'buyers' market'

ABC  

Property prices remained broadly steady across the country in January, according to new data from CoreLogic, largely due to a fall in values in some capital cities. The value of dwellings in regional areas grew 0.4 per cent last month, but fell 0.2 per cent across the combined capital cities. "Underneath that headline figure, we're seeing a continued slowdown in …

Australian home prices tipped to keep falling in early 2025
2 months, 3 weeks ago

Australian home prices tipped to keep falling in early 2025

ABC  

Australian home prices are set to keep falling in the first half of this year, according to a wide range of analysts, but they also expect the decline to be small and short-lived. "There are numerous signs of softening in the Australian property market," wrote AMP's chief economist Shane Oliver, before listing them: Auction clearance rates have cooled from their …

Shock figures show where house prices are FALLING in Australia - and the reason for the decline
2 months, 4 weeks ago

Shock figures show where house prices are FALLING in Australia - and the reason for the decline

Daily Mail  

Property prices in Sydney and Melbourne have declined as the number of overseas visitors drops with an immigration slowdown expected to cut prices further. The drop or slowdown in house prices, in Australia's two biggest cities, occurred as immigration levels moderated from record-high levels Perth's median house prices last year climbed by 18.7 per cent to $847,518, and by 1.7 …

National house prices losing steam
3 months, 4 weeks 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 months, 4 weeks 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 months, 1 week 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% …

Aussie teen rages over Sydney property prices
4 months, 1 week ago

Aussie teen rages over Sydney property prices

Daily Mail  

House prices rose by 1.3 per cent across capital cities in October A young Australian has slammed the country's housing crisis as 'genuinely ridiculous' after receiving a flyer from a real estate agency that showcased ordinary properties that all sold for more than $1million. Data revealed house prices recorded an increase of 1.4 per cent in Sydney, with homes selling …

Home values in Canberra are declining but high interest rates and cost-of-living pressures still make buying hard
4 months, 3 weeks ago

Home values in Canberra are declining but high interest rates and cost-of-living pressures still make buying hard

ABC  

The latest data suggests a shift toward a buyers' market in Canberra this spring, but only for those who can afford to put a deposit together. CoreLogic Australia's head of research, Eliza Owen, said Canberra's housing market could be described as "pretty slow and steady", but with a little more weakness in recent months. "On top of that we're probably …

How much house prices are predicted to go up by across the UK
Trending News
4 months, 3 weeks ago

How much house prices are predicted to go up by across the UK

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Here are Savills’ predictions for house price increases over the …

Why house prices are starting to fall
4 months, 4 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 …

House prices are still rising, but CoreLogic data shows the property market is cooling off
5 months ago

House prices are still rising, but CoreLogic data shows the property market is cooling off

ABC  

Australia's property market is showing further signs of a slowdown, with national house prices rising slightly in October as more home-owners and investors look to capitalise on the spring selling season. "For the past couple of years, they've had really strong population growth, strong jobs growth, and subsequently strong housing demand that has kept prices rising, even through interest rate …

In New Zealand, interest rates have started to fall. This is the impact on the housing market
6 months, 4 weeks ago

In New Zealand, interest rates have started to fall. This is the impact on the housing market

ABC  

Across the ditch, economists say New Zealanders can now see "the light at the end of the tunnel" of high interest rates after the country's central bank announced the first cut in more than four years and signalled more were on the way. "The first cut is the deepest, to quote Rod Stewart," ANZ chief economist in New Zealand Sharon …

CoreLogic house price data shows home values still rising but growth is slowing
6 months, 4 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 …

Australian property prices remain resilient despite economic headwinds
8 months, 1 week ago

Australian property prices remain resilient despite economic headwinds

ABC  

Australian house prices have risen for a sixth straight quarter, according to analysis by Domain. "The housing market remains resilient despite low consumer sentiment, economic pressures and high interest rates," Domain's chief of research and economics, Dr Nicola Powell said. "Supply still remains constrained overall, weighed against a surge in demand from strong population growth and a tight rental market," …

As property prices grow, a new study forecasts Greater Sydney's market remaining unaffordable into next decade
8 months, 1 week ago

As property prices grow, a new study forecasts Greater Sydney's market remaining unaffordable into next decade

ABC  

It's no secret that property prices in Sydney are eye-wateringly high. But according to a new study, property prices across Greater Sydney will be unaffordable for anyone on a single median income until at least the next decade. According to the results, quarterly repayments — including houses, apartments and townhouses — in 2031 for those on a median full-time income …

Real estate expert predicts huge changes in the housing market: 'Things are really breaking down'
9 months ago

Real estate expert predicts huge changes in the housing market: 'Things are really breaking down'

Daily Mail  

America's real estate market could be heading for a significant correction. Veteran strategist Chris Vermeulen, of The Technical Traders, believes he is witnessing troubling signals in the market, noting how borrowing costs are expected to remain high for an extended period. Despite a recent stabilization in building activity, driven by increased investment, Vermeulen believes the real estate market is still …

Young woman with almost $100,000 in savings slams Aussie 'lie'
9 months, 1 week ago

Young woman with almost $100,000 in savings slams Aussie 'lie'

Daily Mail  

A woman has revealed her frustrations about being unable to get her hands on a 'decent' property even with almost $100,000 in savings. 'I think that you are sold the lie that you work hard, you save a lot of money and you'll be able to get into the property market because that's exactly what I've done,' the woman said …

Real estate agents weigh profits against prices as property market finds yet another gear
9 months, 2 weeks ago

Real estate agents weigh profits against prices as property market finds yet another gear

ABC  

In short: The Australian property market appears to have shifted up another gear. "I think we will probably be in a situation where we're no longer seeing such astronomical price growth in a couple of years from now," said CoreLogic's head of research, Tim Lawless. "And that lack of available supply, against what seems to be quite high demand, is …

Building approvals in Australia at decade lows — what does this mean for the housing crisis?
9 months, 3 weeks ago

Building approvals in Australia at decade lows — what does this mean for the housing crisis?

ABC  

Decade-low building approvals could spell disaster for the future of the Australian government's ambitious plans to tackle the worsening housing crisis, property experts say. Australian Housing and Urban Research Institute's Dr Michael Fotheringham said April's figures were in keeping with a broader trend in the country's struggling building sector. "That's not a helpful trend, given the broader lack of housing …

Latest figures show huge change to Australia's property market compared with a year ago
10 months, 1 week 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 …

House prices have risen for the 15th month in a row. Here's what property values look like across the country
11 months ago

House prices have risen for the 15th month in a row. Here's what property values look like across the country

ABC  

Australia's property market is showing no signs of slowing down, with data from CoreLogic showing property prices increased by 0.6 per cent in April. Here's how much property prices changed in each city in April: Sydney: Increase of 0.4 per cent Increase of 0.4 per cent Melbourne: Decrease of 0.1 per cent Decrease of 0.1 per cent Brisbane: Increase of …

House prices continue to rise as number of landlords increase
11 months, 4 weeks ago

House prices continue to rise as number of landlords increase

ABC  

While buying a home to live in remains out of reach for many Australians, investors are flooding back into the housing market. "Despite very high interest rates and a cost of living crisis, we've been seeing housing values rising ever since, albeit at a slower rate of growth," Mr Lawless said. The unfortunate reality was that it was "damn near …

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis
1 year ago

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis

Daily Mail  

A plunge in home approvals has cast severe doubt over the federal government's ambitious plan to build 1.2million homes in five years. Australia's new house approvals are slumping casting severe doubt over the federal government's promise to build 1.2milion homes in five years To meet the Albanese government's targets, 20,000 homes will need to be built every month from July …

House prices continue to rise despite higher interest rates, inflation and cost of living
1 year, 1 month 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 …

Price gap between houses and apartments widens to new record as land values surge in capital cities
1 year, 1 month 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
1 year, 1 month 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 …

The 10 suburbs you need to know if you're buying a home in 2024 - as property expert James Kirkland issues dire warning to renters
1 year, 2 months ago

The 10 suburbs you need to know if you're buying a home in 2024 - as property expert James Kirkland issues dire warning to renters

Daily Mail  

A real estate expert has tipped the property market to surge this year and revealed the ten best suburbs for investors across Australia - but there's no good news for renters. The property analyst said buyers should not just be looking for suburbs with high rental yield but also value growth to protect themselves from rising interest rates. James Kirkland, …

Australian property values rose 8.1 per cent in 2023. Here's what the market has been doing in your area
1 year, 2 months ago

Australian property values rose 8.1 per cent in 2023. Here's what the market has been doing in your area

ABC  

Australia's property prices rose 8.1 per cent nationally over 2023, an unlikely upswing in the face of rising rates. Here are Canberra's most affordable suburbs for houses and units: House: Phillip with a median value of $587,806 Phillip with a median value of $587,806 Unit: Hawker with a median value of $413,328 New South Wales Sydney's annual property values rose …

Property values bounced back across Australia in 2023, but there are signs of slowing
1 year, 2 months ago

Property values bounced back across Australia in 2023, but there are signs of slowing

ABC  

Australian house and apartment values bounced back in 2023, increasing by 8.1 per cent nationally over 2023, according to new data. Key points: New data shows dwelling values rose nationally last year in comparison to 2022 Sydney remains the most expensive city to buy a property across the country Homes in capital cities increased significantly more than in regional areas …

Property prices see 'significant decline' in some suburbs and regions despite housing market rebound
1 year, 3 months ago

Property prices see 'significant decline' in some suburbs and regions despite housing market rebound

ABC  

Property prices "defied expectations" to hit record high values this year, but some suburbs and regional areas have bucked the trend and seen "very significant declines" in their median house prices in the past 12 months. Key points: Data from PropTrack shows suburbs of greater Hobart have seen median house prices fall by more than 10 per cent in the …

Housing Boom and Bust Report tips property price to fall in 2024 as interest rates weigh
1 year, 4 months 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 values are tipped to reach a new high. Here's how much prices have risen in each capital city
1 year, 5 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 …

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house
1 year, 6 months ago

Proptrack Housing Affordability Index: Australian cities which are least affordable to buy a house

Daily Mail  

Housing affordability is at its worst level in three decades, with the average Australian household able to afford just 13 per cent of the market. The report found households earning the median income of about $105,000 can afford 13 per cent of all homes sold across the country in the last year - the lowest level since records began in …

Premium properties lead real estate revival, but is a double-dip housing downturn looming?
1 year, 8 months ago

Premium properties lead real estate revival, but is a double-dip housing downturn looming?

ABC  

Sydney is continuing to lead a home price rebound, as property values close in on a return to pandemic boom peaks. Key points: Home prices rose 1.1 per cent on average across the nation last month Sydney led the increase with a 1.7 per cent rise, regional markets lagged and Hobart prices fell Analysts believe property price growth will slow, …

There is a perfect storm brewing for the housing market and it could make buying your own home a pipedream
1 year, 10 months ago

There is a perfect storm brewing for the housing market and it could make buying your own home a pipedream

ABC  

This isn't supposed to be happening. It's now entirely possible the Reserve Bank won't get inflation down to 2-3 per cent, regardless of whether it raises interest rates again. It went into orbit through the pandemic, as the RBA slashed interest rates to a whisker above zero, and returned to Earth after the reserve bank began its savage series of …

Two-thirds of young Aussies have given up on ever owning a home, shock statistics reveal
1 year, 11 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 …

House price falls ease in February with Sydney posting a rise as real estate listings dry up
2 years, 1 month 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 …

Sydney housing crisis: Newtown home sells in just three minutes - $360,000 above asking price
2 years, 1 month ago

Sydney housing crisis: Newtown home sells in just three minutes - $360,000 above asking price

Daily Mail  

It sold for $360,000 above the reserve price at the auction One family forked out $3.11million for the Newtown house An auction for a Sydney home wrapped in three minutes An auction for an 'unusual' city home has ended in mere minutes and gone $360,000 above the reserve price - showing at least some places appear to be immune to …

Brisbane and Hobart house prices set record for largest, fastest drop
2 years, 2 months ago

Brisbane and Hobart house prices set record for largest, fastest drop

ABC  

Brisbane and Hobart house prices have fallen sharper and faster than ever before after a "specular upswing" through COVID-19, according to property analysts CoreLogic. Key points: Property values dropped 10.9 per cent in Brisbane, and 9.3 per cent in Hobart Both cities saw values soar during COVID-19 The decline was steeper still in Sydney, but the NSW capital is yet …

Has Australia's housing boom hit the end of the road and could it take the economy down with it?
2 years, 2 months ago

Has Australia's housing boom hit the end of the road and could it take the economy down with it?

ABC  

While Argentina may have dispatched Australia to go on and win football's World Cup, there is one kicking contest where we are undisputed world leaders – that's economic can kicking. Many fixed mortgage rates were below 2 per cent, some for terms as long as four years, and the Reserve Bank governor had said repeatedly that rates were unlikely to …

Australian home values see largest decline in recent memory, new data shows
2 years, 2 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, …

Revealed: Where in the UK house prices have dropped the most
2 years, 2 months ago

Revealed: Where in the UK house prices have dropped the most

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Average house …

A 30 per cent house price fall 'unlikely' with RBA tipped to cut interest rates in late 2023
2 years, 2 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, …

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area
2 years, 2 months ago

Australian housing values were down 5.3 per cent in 2022. Here's what's happening in your area

ABC  

Australian housing prices were down 5.3 per cent over 2022, marking the first time housing values have fallen over the calendar year since 2018. Regional South Australia was the stand-out for growth conditions with values up 17.1 per cent through 2022, while regional markets in NSW and Victoria both saw annual falls. Queensland Queensland saw mixed results with its housing …

What Australia's housing market has been doing over the past year
2 years, 3 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
2 years, 3 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 …

Why Australian house prices could begin to recover again in 2023 and 2024
2 years, 3 months ago

Why Australian house prices could begin to recover again in 2023 and 2024

Daily Mail  

Houses prices could recover a lot sooner than the experts are predicting despite fears of more interest rate rises. A Canstar survey of 2,157 Australians showed 60 per cent of respondents were in fact expecting house prices in their state to remain stable, grow or possibly even skyrocket before the end of 2024. Houses prices could recover a lot sooner …

Australian house prices fall seven months in a row but pace of decline slows
2 years, 4 months ago

Australian house prices fall seven months in a row but pace of decline slows

ABC  

National house prices have fallen in November but the pace of decline has slowed as low stock levels persist and buyers push ahead with purchasing despite rising interest rates. Key points: CoreLogic says national home prices fell 1 per cent in November, and by 3.2 per cent annually Unit values have fallen at half the rate of houses However, a …

Warning Australian property prices will start to slide even faster
2 years, 5 months ago

Warning Australian property prices will start to slide even faster

Daily Mail  

Australia's property market downturn could worsen amid fears of another super-sized interest rate rise - with a lot more to come. House prices in every capital city market went backwards in October following six consecutive monthly Reserve Bank interest rate increases, new CoreLogic data showed Australia's mid-point house and unit price fell by 1.2 per cent in October to $721,018, …

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