Search Results for: Corelogic
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Real Estate News
Auction volumes to remain low for foreseeable future
Auction volumes are likely to continue at a lower rate for the foreseeable future, according to CoreLogic, with just 590 properties scheduled for auction across the capitals this weekend resulting in a clearance rate of 59.6 per cent. Volumes were up slightly on the week prior when 413 homes were scheduled for auction and a final clearance rate of 41.1…
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Real Estate News
Which rental markets are most impacted by COVID-19?
COVID-19 is having varied impacts on residential property, but arguably the biggest impact could be in the rental space. According to CoreLogic, prior to COVID-19, the Australian rental market was already weak and with new challenges like Australian borders remaining closed to tourists and government policies restricting short-term rental arrangements, some Airbnb rentals are converting to long-term rental supply. CoreLogic…
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Real Estate News
Auction activity slows for Anzac Day
A combination of Anzac Day commemorations and ongoing on-site auction restrictions saw just 431 properties go to auction across the capitals this week, with results only available for 223 of the properties as of Monday. CoreLogic results indicate volume was down on the 1,922 properties auctioned the previous week as the nation stopped to remember the Anzacs on Saturday and…
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Real Estate News
Property values holding on amid COVID-19 crisis – for now
While the COVID-19 downturn has had a dramatic impact on agent activity and listings volumes in residential real estate, reports indicate that so far the value of dwellings has been relatively resilient. It’s still likely that property values will fall amid the downturn, but according to CoreLogic the decline in momentum across property values has been mild relative to what…
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Real Estate News
Auctions nosedive on back of pandemic and public holiday
The number of homes scheduled for auction this week took a dive, with only 314 properties scheduled for auction across the combined capital cities. According to CoreLogic, the lower volumes are partly due to coronavirus reducing the number of vendors serious about taking their property to auction in more challenging conditions, and also because Anzac Day falls on Saturday –…
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Real Estate News
Stamp duty reduction a missed opportunity: REINSW
The Real Estate Industry of New South Wales (REINSW) is calling on the State Government to slash stamp duty in response to the economic fallout from COVID-19. Noting the industry has argued for the removal of stamp duty for years, the industry body now says reducing it offers a lifeline. “We’ve called it inefficient, unreasonable, unfair, an unnecessary burden and,…
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Real Estate News
Higher auction volumes again weighed down by withdrawals
Scheduled auction volumes increased this week, almost trebling in numbers after the Easter weekend, but as seen in previous weeks the results were weighed down by withdrawals, with the clearance rate coming in at 39.1 per cent. Across the capitals 1848 properties were listed for auction compared to 634 the week prior, according to CoreLogic’s figures. Of the 356 properties…
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Real Estate News
Subdued Easter auction market
The Easter long weekend delivered subdued auction results, with just 636 homes slated for auction across the combined capitals, returning a preliminary clearance rate of 29.3 per cent. CoreLogic noted the clearance rate was again dragged down by withdrawn properties, with 57 per cent of listings pulled “as the auction market continues to face challenges around social distancing measures banning…
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Real Estate News
The RBA Leaves the Cash Rate on Hold at 0.25 per cent
At its monthly meeting today, the RBA has decided to leave the cash rate on hold at 0.25 per cent. The move that was widely tipped by analysts will see the cash rate remain at historic lows for the foreseeable future. In mid-March, the RBA held its first emergency meeting since 1997 to slash the cash rate to current levels…
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Real Estate News
Clearance rate weighed down by withdrawn auctions
Over 3000 properties were slated to go under the hammer this weekend. But according to CoreLogic 45 per cent were withdrawn from sale and a further 84 per cent of auctions sold prior to the event, resulting in a preliminary clearance rate of 48 per cent.
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Real Estate News
House price growth begins to slow
Despite the unprecedented social distancing measures put in place to stop the spread of the coronavirus, home values across the country pushed higher in March. According to the latest data from CoreLogic, prices rose by 1.1 per cent in Sydney, 0.4 per cent in Melbourne, 0.6 per cent in Brisbane and Canberra, 0.5 per cent in Perth and 2 per…
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INDUSTRY NEWS
High volumes, lower clearance as auctions go online
Auction volumes were high, but as expected, the preliminary clearance rate took a hit across the capitals this week, falling to 61.3 per cent amid continued uncertainty surrounding COVID-19. It wasn’t for lack of innovation, however as agents worked hard to adapt to a fast-changing environment. This week was the first to see all auctions…
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Elite Agent
Auctions busy, but clearance rate slows
This week proved the second busiest for auction activity in 2020, however the preliminary clearance rate took a hit as a result of continued uncertainty around COVID-19. According to the latest figures from CoreLogic, this weekend saw 2,539 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 61.3…
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Real Estate News
How real estate agents can market property in the age of COVID-19
With an estimated 115,000 listings on the market (according to CoreLogic), agencies are looking for solutions that allow them to continue to transact property – particularly if consumers are subject to further isolation and quarantine measures which can make the familiar arrangements a challenge. Strategies to contain the spread of the virus, such as enforced isolation and public gathering restrictions,…
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Real Estate News
Coronavirus fallout prompts RBA to slash rates
The RBA has officially cut interest rates to their lowest level on record in the fight against the economic fallout from the coronavirus. In an emergency meeting yesterday, the RBA reduced the official cash rate to 0.25 per cent down from 0.5 per cent. The RBA has only recently cut the cash rate from 0.75 per cent at its monthly…
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Real Estate News
Auctions continue to defy doom and gloom
Auction markets remain strong despite coronavirus concerns, with 2220 properties taken to auction across the capitals this week, returning a preliminary clearance rate of 70.6 per cent. CoreLogic notes this figure is well above last week’s national volume when 1,494 auctions returned a final clearance rate of 68.6 per cent. “After the remaining results are collected it is likely that…
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Real Estate News
Rental values on the up
A quarterly review of national rents by CoreLogic showed that rents surged 0.5% higher over the month to January 2020 to record a current median rental value of $440/week. According to Eliza Owen who heads up the company’s residential research division, this was the highest monthly growth rate in the national rental index since January…
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Real Estate News
Long weekend sees lower auction volumes yet solid clearance
With a number of states and territories enjoying a long weekend, auction volumes were significantly lower than last week, but the preliminary clearance rate remained a healthy 74.8 per cent. That’s largely attributed to lowered interest rates yet flies in the face of bleak headlines about coronavirus and the global economy. About the grounds, a total of 1,456 auctions were…
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Real Estate News
Perth rents increase and sales set to follow
Perth has recorded its first increase in rental prices the Western Australian property market has seen since January 2017, and sales are predicted to follow suit with the market showing a strong gradual improvement over the last four months. According to the Real Estate Institute of Western Australia, Perth’s median rent increased to $360 per week in February. REIWA President…
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Real Estate News
House price rebound continues with new highs in sight
House prices across the country have continued to grow in value in February, with Sydney and Melbourne again the strongest markets in the country. According to the latest data from CoreLogic, median house prices across the combined capital cities jumped 1.2 per cent in February. Again it was Australia’s two major cities, Sydney and Melbourne that are doing the bulk…
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Real Estate News
Super Saturday lives up to its auction market promise
The busiest auction day of the year lived up to its name, with Super Saturday seeing 2,933 auctions in the capitals, delivering a preliminary clearance rate of 77.1 per cent.
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Real Estate News
Auctions go from strength to strength
Auctions go from strength to strength The auction market continues to go from strength to strength with 2,446 properties going to auction in the major capitals this week, resulting in a preliminary clearance rate of 77.7 per cent. According to the CoreLogic data, that was a significant increase on this time last year when 2293…
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Real Estate News
The Agency kicks off in Canberra
Peter Micalos is set to take the driver’s seat at The Agency’s new Canberra chapter, which launched this week with a significant project pipeline. Canberra’s growth trajectory – recent CoreLogic data showing dwelling values increased by 2.3 per cent over December and 3.14 per cent in January 2020 – has been on The Agency’s radar since the company’s inception three…
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Real Estate News
Change on the program for RE/MAX New Zealand in 2020
RE/MAX New Zealand set ‘Navigating change’ as the theme for its February Rally held at the Grand Millennium, Auckland on Thursday, 13 February. “Change and the challenges associated with it are prominent on the RE/MAX New Zealand outlook for 2020,” said RE/MAX New Zealand Managing Director Michael Davoren. “Along with technology, global developments and changing customer expectations, the September election…
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Real Estate News
Auction clearance rate up on the back of increased volume
The national clearance rate is sitting just below 80 per cent after a weekend which saw Canberra, Sydney, Perth and Melbourne all achieve exceptional results. According to the latest data from CoreLogic auction markets showed a strong result of 78.6 per cent on the back of higher volumes as the number of properties taken to…
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Real Estate News
Demand for residential land picks up
“Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter,” said HIA Economist, Angela Lillicrap. The February 2020 edition of the HIA-CoreLogic Residential Land Report provides updated information on sales activity in 46 housing markets across Australia, including the six state capital cities. “The first half of…
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Elite Agent
Auctions kick up a gear
Auction activity almost doubled this week as the capital cities kicked up a gear following the traditional Christmas slowdown. CoreLogic reported 1122 homes went to auction at the weekend, effectively doubling last week’s total of 625. Higher volumes also equated to higher clearance rates with a preliminary national rate just shy of 70 per cent.…
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Real Estate News
RBA leaves rates on hold at 0.75 per cent for February
The Reserve Bank of Australia (RBA) has left the cash rate on hold at 0.75 per cent at its February meeting, in what was a decision that was widely expected by the market. Over the past few weeks, economic data has been on the improve and that has made a strong case for rates to be left unchanged. We’ve seen…
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National
House price rally continues in January
House prices started the year in the same fashion as they ended 2019, rising across every capital city in Australia. According to the latest data from CoreLogic, the combined capital cities grew by 0.9 per cent in January, taking the quarterly gain to 4.2 per cent. Once again it was Sydney (up 1.1 per cent)…
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Real Estate News
realestateview.com.au announces Antony Catalano as newest board member
realestateview.com.au announced the appointment of Antony Catalano as a board member. Catalano and his business partner, Alex Waislitz, now hold the largest interest in realesteview.com.au with an economic stake of 26 percent. This is another venture for the pair who are currently growing their media portfolio alongside the recent acquisition of Australian Community Media (ACM)…
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Real Estate News
Hobart leads the way as resale prices on the rise
Almost nine out of 10 property resales over the September 2019 quarter sold for more than their previous price, delivering a gross profit of $18.7 billion for resellers across Australia. The latest CoreLogic Pain and Gain report showed overall 87.4 per cent of property sold above its previous price, and reveals a slight increase in profitable resales (0.1 per cent)…
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Real Estate News
Six properties sell ahead of The Event as Gold Coast market gathers steam
The Gold Coast’s flagship real estate auction, The Event, is off to a flying start with six properties finding buyers ahead of Saturday’s auction date. Australia’s largest in-house auction program, hosted annually by Ray White Surfers Paradise Group (RWSP), is living up to its title with an initial 103 properties listed on the 2020 program. The properties range from one-bedroom…
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Elite Agent
House prices close out 2019 with more strength
It was another strong month of house price growth in December, as the year-end rally stayed true to form across the country. Across the major capital cities, dwelling values increased by 1.2%, marking yet another solid monthly performance, according to the latest data from CoreLogic. Again it was Sydney and Melbourne leading the price increase,…
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EPM: Best Practice & Legislation
Five big issues that affected the real estate industry in 2019
The real estate industry is never stagnant. It is impacted by regulation changes, the rise and fall of the economy, buying motivations and the generosity of banks. Heck! Mother Nature can even wreak havoc and play a part in the way we buy, rent and manage property. This year has been no different. There have been ups and downs, and…
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Elite Agent
Weekend Auction Wrap: Volumes taper off ahead of Christmas
Auction volumes and the preliminary clearance rate across the country were lower this weekend, as the tapering off ahead of the Christmas period officially began. The clearance rate in Sydney dropped for a third straight week, with volumes down by -13 per cent on the prior week. Only 846 homes were taken to auction, according to the latest data from…
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