Search Results for: Corelogic
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Real Estate News
12 Sydney property market predictions for 2020
1. Property owners will continue to sit on their handsListings will continue to be at relatively low levels as a significant proportion of property owners will wait and ‘time the market’ until they are certain prices have peaked again. For this reason, Sydney property buyers might be rewarded with more stock at the end of 2020. Once this happens, prices will…
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Real Estate News
Call for government to raise price caps for first home buyers
On of the nation’s most awarded mortgage brokers is calling for the government to lift price caps on first home loan schemes, saying first-time buyers in Sydney and Melbourne might as well not waste their time. Zippy Financial Director and Principal Broker Louisa Sanghera said the property price caps in the First Home Loan Deposit Scheme were set so low…
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Elite Agent
Weekend Auction Wrap: Sydney and Melbourne buyers getting aggressive
It was another busy weekend for auctioneers across the country, with the 2,571 homes taken to auction making it the second busiest weekend of the year. Melbourne saw another strong result this weekend with 77 per cent of homes selling based on preliminary clearance data from CoreLogic., while Sydney was also strong coming in at 77.2 per cent. While volumes…
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Real Estate News
Strategy is key, says winning auctioneer from The Block
When Queensland newlyweds Tess and Luke took out The Block auctions in August, it was largely thanks to experienced auctioneer David Wood. The hockingstuart auctioneer sold the property for an unprecedented $3.62 million – his third win on The Block which he puts down to his market knowledge, buyer profiling and auctioneering style. Mr Wood, who has conducted 3,000 auctions…
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Elite Agent
Weekend Auction Wrap: Sydney’s second busiest weekend of the year
Once again, Sydney was the market leader for auction results over the weekend, coming in with a preliminary clearance rate of 81 per cent. According to the latest data from CoreLogic, Sydney had 931 homes taken to auction making it the second busiest weekend of the year. In Melbourne, however, there was also a surge in volumes, but the clearance…
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Real Estate News
The RBA keeps interest rates on hold at 0.75%
The Reserve Bank of Australia has kept interest rates on hold at 0.75 per cent at its November meeting. After three cuts since June which saw the official cash fall from 1.5 per cent, the odds of a cut were low. Headed into the meeting there was just a five per cent chance of a 25 basis points cut, with…
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Elite Agent
Weekly Auction Wrap: Lower volumes but strong sales
There was a lower number of homes going to auction over the weekend, thanks to the Spring Racing Carnival in Melbourne. But that didn’t stop Sydney and the rest of the country from putting in another solid performance. The auction clearance rate in Sydney remained at a very upbeat 79.4 per cent, while Melbourne dipped to 73.3 per cent on…
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Real Estate News
Melbourne and Sydney drive rise in house prices
House prices across the nation continue to move higher, getting dragged along by continued strength in both Sydney and Melbourne as house prices continue to rise. According to the latest data from the CoreLogic, it was Melbourne property prices that gained the most in the month of October, up 2.3 per cent – its strongest result since 2009, while Sydney…
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LEADERSHIP
10 ways to future proof your real estate business
IT CAN BE HARD TO KNOW where to start when implementing technological changes in your business. Futurist Gihan Perera has done the head-scratching for you and explains what to do now to remain relevant for tomorrow’s consumer. Australia is perfectly positioned for growth in this “Asian Century”, and Australian real estate will be highly-sought and…
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Real Estate News
Weekend Auction Wrap: Auction volumes surge higher
It was another strong weekend of auctions around the country, highlighted by a huge surge in the number of properties going to auction. The auction clearance rate in both Sydney and Melbourne dipped slightly, with Sydney recording 79.7% and Melbourne 77.1% according to the latest data from CoreLogic. While the national rate ended up 75.3%.…
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Real Estate News
Herron Todd White welcomes Drew Hendrey to strategic national role
Australia’s largest independent valuation and property advisory firm has announced its latest strategic national team appointment, as the firm looks to build further on its already formidable presence in the industry. Drew Hendrey has accepted the position of Executive Director Valuations Advisory for Herron Todd White (HTW), confirming his resignation from CoreLogic late last week, after more than five years…
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Real Estate News
Weekend Auction Wrap: Supply shortages keep driving demand
The top-end buyers were once again out in force in Sydney with a lack of supply continuing to force buyers to pay higher prices. In Sydney, the preliminary auction clearance rate was again well above 80%, finishing up at 84.3% according to the latest data from CoreLogic. The result was up sharply on last week…
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Elite Agent
Auctions aren’t simply for the top-end properties
Sellers who have taken their homes to auctions in spring have been scoring results well above the median prices for their respective cities. Analysis from Domain showed the median price for properties sold at auction in Sydney on Saturday was $1,177,500. The amount is in stark contrast with Sydney’s median home price of $805,424 (CoreLogic).…
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Real Estate News
Rental returns still struggling despite sales resurgence
Despite a resurgence in house prices and strong auction results, the national rental market has continued to struggle in recent months. Across Australia, rents were -0.1% lower over the month to September 2019, with the median rental value being $436 per week. The weak rental rates have been trending lower of recent times, with the…
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Real Estate News
Auction Market Recap: The buyers return with force
With the footy finals out of the way, property buyers across the nation were out in force over the weekend, pushing the auction clearance rate straight back up to pre-finals levels. Sydney’s preliminary clearance rate surged back above 80 to finish at 82.3 per cent, while Melbourne was equally strong at 76.7 per cent, according to the latest CoreLogic data.…
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Real Estate News
CoreLogic expands valuation service to rural areas
Appraisals of rural properties are set to become easier for lenders, brokers and government bodies following the launch of the latest iteration of valuation software, ValConnect. CoreLogic developed the Rural Desktop software in response to growing demand for a lightweight alternative to standard rural valuations, which require full inspections, lengthy turnaround times and complicated reports. CoreLogic Head of Product Tim…
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Real Estate News
The RBA cuts rates to 0.75 per cent
The Reserve Bank of Australia has cut official interest rates by 25 basis points to a record low of 0.75 per cent. Going into the meeting of the RBA, markets were predicting that there was a 79 per cent chance that there would be a rate cut at the October meeting. This year, the RBA has cut rates three times,…
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National
House prices are booming again in Melbourne and Sydney
House prices across the nation have seen their biggest jump since March of 2017 in what is a return to boom times for many capital cities. Once again Sydney and Melbourne led the way, both jumping 1.7 per cent for the month of September, while Canberra was the other strong performer leaping 1 per cent, according to the latest data…
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Real Estate News
Resellers continue to see healthy profits
Resellers of homes continue to make healthy profits right across the nation, with 9 out of 10 properties making their owners a profit when resold. According to the latest Corelogic Pain and Gain Report, 87.1% of properties resold in the June quarter achieved a higher sale price compared to their original purchase price. As has been the case recently, it…
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Elite Agent
Weekly Auction Wrap: Sydney’s busiest week of the year
In a weekend where Victorians were busy watching the AFL Grand Final, Sydney recorded its busiest Saturday of the year for auctions. Sydney recorded a preliminary clearance rate of 78 per cent from 939 auctions, according to the latest CoreLogic data, which was up from 608 this time last year. With attention elsewhere in Melbourne, there were only 103 auctions,…
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Real Estate News
Millennials struggling to leave home, according to affordability report
The ongoing affordability crisis is entrenching a generation dependent on parents for housing, with the number of Millennials giving up hope of moving out of home by 30 years of age surging, according to CoreLogic’s Perceptions of Housing Affordability report for 2019. The report identified the proportion of Australians who think they will be at least 30 years of age…
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Real Estate News
Cameron Kusher to lead REA’s economic research
REA Group has appointed one of Australia’s most-respected and experienced property commentators Cameron Kusher to the newly-created role of Executive Director of Economic Research. Mr Kusher joins REA from CoreLogic, where he spent more than 10 years, most recently as the Head of Research. REA Group CEO Owen Wilson said Mr Kusher would work alongside REA’s well-established and influential Chief…
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Real Estate News
South Australia Sotheby’s Realty defies the market with record-breaking results
Luxury real estate brand South Australia Sotheby’s International Realty has bucked the historically conservative South Australian property market trends with a number of landmark sales. Under the leadership of Grant Giordano, Director – Adelaide, several big-ticket properties have either sold or been contracted in the last few months, many setting suburb records. In June, a dream coastal property in tightly-held…
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SELLING + MARKETING PROPERTY
Weekly Auction Wrap: Clearance rate strong amidst a surge in listings
It has been another strong weekend for auctions across the country as the national clearance rate once again finished above the 70 per cent mark. With the weather heating up across the country, so too were the number of listings, which jumped nearly 20 per cent. Sydney recorded a preliminary clearance rate of 76.6 per cent while Melbourne came in…
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Elite Agent
Weekly Auction Wrap: Has the clearance rate topped out?
While it was another strong weekend across the country for auctions, we’ve had the first downtick in a number of weeks, which could signal that the surge in the clearance rate is starting to ease. Over the weekend, the latest Corelogic data has shown 75.7 per cent of homes sold at auction across the country, marking what is expected to…
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Real Estate News
Regional areas record strongest rental yields
Australia’s regional areas have once again proved they are the best source for strong rental yields, with one Queensland country town recording a rental return of 11.7 per cent, according to the latest report from Corelogic. The Corelogic top rental performers report identifies the top 100 suburbs where houses or units have an estimated gross rental yield of 5 per…
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Elite Agent
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Real Estate News
House prices jump across the country
Buyers are coming out in numbers in Australia’s two major cities and it was the driving force behind the first big jump in house prices that we’ve seen in many months. According to the latest data from CoreLogic, Sydney house prices rose by 1.6 per cent, while Melbourne jumped by 1.4 per cent. Across the country, dwelling values increased by…
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Real Estate News
LJ Hooker opens new office in North West Tasmania
LJ Hooker has expanded its network in North West Tasmania with the opening of LJ Hooker Devonport. Experienced local real estate specialists Michael Ziegler and Melissa Burtt will head up the new office, which offers a full suite of real estate services across residential properties, including sales and property management. With 16 years’ combined experience in the real estate industry,…
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Real Estate News
The RBA keeps rates on hold
After two straight months of rate cuts, the RBA has left rates unchanged at one per cent. The move was widely expected and will mean borrowers will likely not see any changes to variable rates this month. However, RBA Governor Lowe has suggested that the RBA stands ready and able to cut rates further if they are required to do…
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Elite Agent
Property prices continue to turn the corner
There are more positive signs for property prices across the country as the latest data from CoreLogic suggests the market is moving into a recovery phase. This is the second straight month that prices have ticked higher in both Sydney and Melbourne as the positive sentiment in the market continues to improve. Since APRA reduced the buffer rate on borrowers,…
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Real Estate News
Auctions this week: Clearance rates continue to tick higher on low volume
Auctions this week: Clearance Rates Continue to Tick Higher on Low Volume It might be the middle of winter in Australia, but that hasn’t stopped the resurgence in the auction clearance rate across the country. In Sydney, the preliminary clearance rate was up to 81.5%, its highest in more than 18 months. In Victoria CoreLogic…
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Elite Agent
Auctions this week: Buyers are back
According to CoreLogic, the first week of July 2019 saw a combined capital clearance rate above 60 per cent for the fourth consecutive week. With the Federal Election now an almost distant memory, Elite Agent spoke to some of Australia and NZ’s top auctioneers to see if buyers are really back, and what the lead-up to Spring Selling Season is…
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INDUSTRY NEWS
Property prices start to recover in Sydney and Melbourne
There are some positive signs for property prices on the East Coast as both Sydney and Melbourne have posted monthly gains for the month of June. Values in Australia’s two major housing markets were up 0.2 per cent in Melbourne and 0.1 per cent in Sydney for the month, according to the latest figures from CoreLogic’s Hedonic Home Value Index.…
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Elite Agent
Clock’s tickin’ – Qld and SA in recovery as NSW continues its decline, according to Herron Todd White
The Sunshine Coast and Bathurst are among areas sitting at the top of the property clock, bucking a trend which sees most of New South Wales in a steady decline, while much of regional Queensland begins its recovery. These are the latest insights from independent valuation and advisory firm Herron Todd White who also had some good news for much…
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