Search Results for: Corelogic
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Real Estate News
Which regions have seen the highest rent value increases over the year?
CoreLogic data across 88 local markets shows that, as with the current housing market upswing, rental market increases have been broad-based.
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INDUSTRY NEWS
National rents record highest annual growth in over a decade
Despite rental growth slowing over recent months, CoreLogic's Rental Review for the June 2021 quarter shows national rental rates are 6.6 per cent higher than they were last year after enjoying the highest annual growth in dwelling rents since January 2009.
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INDUSTRY NEWS
Clearance rate steady despite lockdowns in the largest auction markets
The combined capital city preliminary auction clearance rate remained relatively steady week-on-week, despite the announcement earlier in the week that Sydney was extending the current lockdown and Melbourne was commencing a fifth lockdown.
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Real Estate News
Snap lockdown thwarts Melbourne’s scheduled auction growth
Melbourne had more than 1,000 auctions scheduled, but the latest snap lockdown could significantly impact these figures.
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Real Estate News
Cheaper to buy than rent more than a third of Australian properties
CoreLogic analysis has suggested servicing a mortgage is now cheaper than paying rent on 36.3 per cent of Australian properties. That is 2.3 per cent higher than before coronavirus hit Australia. CoreLogic reported in February last year that mortgages were cheaper than renting for 33.9 per cent of properties. The analysis was undertaken at the individual property level, using a…
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FRANCHISE NEWS
Vendor confidence up with appraisals rising 34 per cent
After a booming 12 months for Australian real estate, vendor confidence across the continent remains robust, according to Raine & Horne. Raine & Horne released new data that indicates property appraisals are about 34 per cent higher than winter 2020 and almost 44 per cent stronger than the same time in 2019. According to CoreLogic, national home values rose 13.5…
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Real Estate News
New Zealand’s mortgaged investors see fall in share of property purchases
Over the past three months, New Zealand‘s mortgaged investors have seen their share of property purchases fall, while the number of first-home buyers (FHBs) bought at increased rates. CoreLogic New Zealand (NZ) Chief Property Economist Kelvin Davidson said these patterns were more due to the 40 per cent deposit mortgaged investors need, rather than the March tax changes. The June…
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National
Highest rate of dwelling value growth since 2004
CoreLogic data has revealed Australian dwelling values saw the highest annual growth rate since 2004. The latest CoreLogic housing market data found Australian dwelling values rose 13.5 per cent in the 2020-21 financial year, which was the highest annual growth rate in 17 years. Regional New South Wales saw dwelling value changes for the financial year increase by 21.1 per…
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Real Estate News
National auction volumes remain steady despite drop in Sydney
The preliminary auction clearance rate has risen to 76.4 per cent this week, with volumes remaining relatively steady despite a 17 per cent drop in the number of predicted auctions in Sydney.
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INDUSTRY NEWS
CoreLogic investigates how the housing market reacts to lockdowns
CoreLogic has released a comprehensive overview of housing market performance through lockdowns.
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NEW ZEALAND
New Zealand’s Wellington sees a 123 per cent rise in property values
Across the wider Wellington area, the past six years have brought large increases in property values, following a long flat patch prior to 2015.
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INDUSTRY NEWS
Experts weigh in on the Reserve Bank of Australia’s rate-hold
On Tuesday afternoon, the Reserve Bank of Australia (RBA) announced the official cash rate was on hold, to mixed reactions. Economists and industry leaders have weighed in on the RBA’s announcements on social media, with many using Twitter to share their opinions. Economist and Monash University lecturer, Dr Isaac (Zac) Gross says the under-covered aspect of the RBA is the…
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NEW ZEALAND
CoreLogic New Zealand House Price Index shows market momentum continues to fade
Property values around New Zealand (NZ) increased by 1.8 per cent over June, according to the CoreLogic House Price Index (HPI). Corelogic’s data indicates a slight reduction in June from the 2.2 per cent growth rate from May, providing early evidence of a gentle deceleration in market momentum in NZ. CoreLogic’s Head of Research, Nick Goodall believes the turnaround will…
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INDUSTRY NEWS
Auction volumes and clearance rates dip due to COVID uncertainty
The preliminary clearance rate came in at a lower 73.6 per cent this week after the volume of auctions dipped slightly due to COVID lockdowns in multiple Australian states.
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Real Estate News
Australian dwelling values finish the financial year 13.5 per cent higher
National home values rose 1.9 per cent in June, taking annual growth to 13.5 per cent for the financial year.
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Real Estate News
Sydney holds firm despite lockdown, Melbourne enjoys second busiest auction week of the year
Melbourne has enjoyed its second busiest auction week of the year, but all eyes were on Sydney this weekend after the announcement of snap lockdowns in four local government areas.
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Real Estate News
Profit-making resales jump thanks to hot property market
The number of home owners selling their property at a profit jumped in the March 2021 quarter thanks to the record run for property prices.
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NEW ZEALAND
Housing policy changes have had little effect on the NZ market
Three months on from the New Zealand government’s housing policy, CoreLogic reveals the changes are yet to have a discernible impact on the market. CoreLogic Head of Research Nick Goodall admits it’s “still early days”, after the New Zealand (NZ) government policy was announced on 23 March this year. “It’s hard to disentangle the government’s bright-line extension and tapered removal…
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INDUSTRY NEWS
Over three-quarters of auctions successful this week
Over three quarters of auctions proved successful this week after 2418 properties were taken to auction, resulting in a preliminary clearance rate of 77.8 per cent. CoreLogic noted the volume was again down on numbers predicted earlier in the week, revising down from 2610 with the majority of that drop occurring in Melbourne. Of the 1955 results collected so far,…
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Real Estate News
Over 200 markets now in the million dollar property club
With property markets running hot across the country, a new report has highlighted that there are now 218 million-dollar areas across Australia.
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NEW ZEALAND
New Zealand’s property market upswing is nationwide
CoreLogic New Zealand takes an in-depth look at suburb-level property data, revealing a surprising market upswing. Upmarket shopping district Herne Bay remains New Zealand’s (NZ) most expensive suburb with a median value of $3.16 million. However, in terms of value growth, cheaper areas reign supreme. Reflecting better relative affordability and easier access for a wider range of buyers, Manunui in…
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BTW
McGrath opens new office in Lower Blue Mountains
As more Sydney residents expand their property search into the stunning Lower Blue Mountains, McGrath Estate Agents have opened a new office in order to service the increasingly popular regional New South Wales area. The Announcement: Leading residential group, McGrath Estate Agents, has opened a new office in a popular regional area of NSW. McGrath Lower Blue Mountains will be…
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Real Estate News
Auction volume down but clearance rate up over long weekend
Auction volumes were again lower than predicted this week, but CoreLogic noted the preliminary clearance rate enjoyed a slight rise.
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Real Estate News
Female real estate agents sweep the REIA awards
The winners of the 2021 Real Estate Institute of Australia National Awards for Excellence have been announced. Female real estate agents swept the board, winning eight out of 11 of the individual agent categories. REIA President Adrian Kelly said that from the 83 finalists there was an increase in female candidates in the different categories from previous years. OBrien Real…
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Real Estate News
Auction volumes below predictions due to Melbourne’s lockdown
Auction volumes dropped below the number previously predicted this week, with 2691 properties going under the hammer across the combined capitals
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Real Estate News
PropTech startup raises $3 million to help keep buyers in the loop
A PropTech startup that gives buyers access to pre-market and off-market real estate recently closed a $3 million funding round that will enable it to continue to grow. Listing Loop, which launched in 2019 and was founded by PropTech entrepreneur Rhett Dallwitz and real estate director and strategist Andrew Meehan, gives property buyers quick and easy access to properties that…
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Real Estate News
Australian residential property values rise by 2.2 per cent in May
Housing markets continued to surge throughout Australia in May, with CoreLogic's national Home Value Index rising by 2.2 per cent over the month.
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Real Estate News
Sydney property values tipped to rise by more than 20 per cent
House prices in Sydney are forecast to rise by an unprecedented 21 per cent in 2021, with a range of economists and industry experts also tipping the cash rate will remain on hold when the Reserve Bank Board meets on June 1.
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Real Estate News
Third busiest auction week of the year, despite Vic lockdown
Despite the announcement of a snap lockdown in Victoria, this week proved the third busiest auction week of the year, with 2930 properties going to auction across the combined capitals, resulting in a preliminary clearance rate of 75.7 per cent.
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CONTRIBUTORS
Joel Davoren: Make auctions comfortable for buyers
With record prices being achieved across much of Australia’s real estate market over the past year, the popularity of auctions has also skyrocketed. As RE/MAX Australia Managing Director Joel Davoren explains, there’s every chance someone’s dream home will sell under the hammer, so agents need to ensure prospective buyers are comfortable with the process.
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Real Estate News
The lesson for Australia out of Victoria’s property tax hikes: two out of three ain’t bad
Victorian treasurer Tim Pallas’s three-pronged strategy to raise an extra $2.7 billion in property taxes over the next four years is a case of two out of three ain’t bad, writes Brendan Coates.
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Real Estate News
Second place worth celebrating at Harcourts Australia’s awards night
Harcourts Australia had plenty of reasons to celebrate over the weekend. In addition to the company hosting its annual awards night on Saturday, the group also announced it is now the second-largest real estate group in the country.
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Real Estate News
Auction volumes and clearance take a minor dip
Both auction volumes and the preliminary clearance rate took a minor dip this week, with 2845 homes taken to auction across the combined capitals, resulting in a success rate of 78.2 per cent.
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Real Estate News
Regional rent prices rise at three times the rate of capital cities
Rental prices in Australia’s combined regional markets have increased by almost three times the rate as capital city markets over the past year.
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Real Estate News
Regional housing market growth continues to outpace capital cities
Property value growth in Australia's regional housing market has far outpaced capital cities over the past 12 months, rising 13 per cent compared with a 6.4 per cent gain in capital city values.
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