Search Results for: Corelogic
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Real Estate News
Australian property values record largest decline on record
Australian property values have clocked the largest decline on record, dipping by 8.4 per cent between their peak on May 7 2022 and January 7 2023, according to CoreLogic.
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INDUSTRY NEWS
2022 the worst year for property price drops since the GFC
December home price figures paint a mixed picture for a property market that came under intense pressure from rising interest rates during 2022, with some smaller capital cities still recording positive price growth despite a decline in national values not witnessed since the Global Financial Crisis.
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Real Estate News
The top 50 residential real estate influencers and innovators for 2022
There is rarely a dull day in real estate. From mergers and acquisitions, pivoting in a changing market and continued acceleration of PropTech, 2022 has been a year for the record books.
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INDUSTRY NEWS
Only 7 per cent of suburbs in New Zealand not experiencing price declines
While most suburbs in New Zealand have been experiencing steep home price declines in the past three months, there are still areas that have seen growth according to CoreLogic.
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VIC Real Estate News
Two Toorak records among Victoria’s top sales in 2022
Two state records set in just a matter of days in August topped the list of Victoria's most expensive home sales this year.
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INDUSTRY NEWS
Some of the NSW property sales that wowed us in 2022
There's no doubt Sydney has some of the most luxurious homes in the world and some of the top sales this year didn't disappoint. Let's take a look!
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INDUSTRY NEWS
New Zealand property values decline at GFC levels with further falls predicted
Agents taking stock of Australia's deteriorating market conditions should spare a thought for their Kiwi cousins, with values in New Zealand falling further than predicted in 2022.
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Real Estate News
Queensland’s top sales for 2022
Water views were the order of the day for some of Queensland's top residential property sales this year.
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INDUSTRY NEWS
Expensive property markets leading the downturn but end could be in sight
The country’s most expensive property markets have been bearing the brunt of higher interest rates, however, 2023 could mark a slowing in the rate of declines according to a new report. CoreLogic’s annual Best of the Best Report for 2022, found that Sydney has been hit hardest by rising borrowing costs along with other higher-priced housing markets. CoreLogic Head of…
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INDUSTRY NEWS
A perfect storm: Australia’s rental crisis – part one
Australia is in the grip of a housing crisis. More specifically, a rental crisis. Vacancy rates are at record lows, weekly rents are skyrocketing and there’s simply not enough houses to go around.
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Tough conditions for mortgaged New Zealand investors
Homeowners across New Zealand who own multiple mortgaged properties face tough buying conditions as regulations and higher interest rates make it harder to purchase homes.
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INDUSTRY NEWS
Cash rate hits highest point in a decade
The cash rate is now at its highest level since 2012, with the Reserve Bank of Australia (RBA) using its last monetary policy meeting of 2022 to lift the cash rate 25 basis points.
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INDUSTRY NEWS
Busiest auction week since June
The combined capital cities have had the busiest auction week since mid-June, with 2506 homes going under the hammer.
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National
Property values fall for seventh consecutive month
Property values have dropped more than $50,000 since their peak in April according to the latest CoreLogic Home Value Index.
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INDUSTRY NEWS
Unit growth falls into negative territory
Annual growth for units across the country has slipped into negative territory, with values down 1.4 per cent compared to this time last year, according to CoreLogic.
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OPINION
Rooms to spare: Andrew Cocks
Australia’s housing crisis is a bit of a misnomer really. What we are really suffering is a housing to household mismatch where large family homes that were once occupied by several people now accommodate just two.
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Real Estate News
Auction volumes continue to rise in lead-up to Christmas
Auction volumes have risen further this week, and the trend is tipped to continue in the lead-up until Christmas.
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More land is required to build one million new homes
The government will need to release more land if they’re to meet their goal of building one million new homes in five years according to experts.
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Fixed-rate mortgages could hit 7 per cent in New Zealand
One-year fixed-rate mortgages could surge as high as 7 per cent in the coming months putting even more pressure on New Zealand property prices according to an expert.
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EPM: Best Practice & Legislation
Insurance isn’t immune to rising costs
Insurance is great protection for all sorts of life’s curve balls, but one thing it can’t protect us – or the industry itself from – is rising costs.
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Real Estate News
Auction activity increasing as the countdown commences to Christmas
Auction activity increased this week and that trend looks set to continue, with CoreLogic tipping there will be a further rise in volume next week as the countdown commences until Christmas.
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Profitable resales decline across New Zealand
Profitable resales across New Zealand continued to decline last quarter, dropping to 96.8 per cent according to CoreLogic.
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Covid regional hotspots lead price declines
The Covid boom that saw tens of thousands of people moving to regional Australia has officially come to end, with many regional hotspots now leading the downturn.
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First annual decline in Australian home values since October 2019
The value of Australian residential real estate continued to decline in October, down to $9.5 trillion from $9.6 trillion according to CoreLogic.
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Real Estate News
Auction volumes up 13 per cent
Capital city auction volumes increased almost 13 per cent this week, with 2159 properties going under the hammer to record a preliminary clearance rate of 60.1 per cent.
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Mortgage rates nearing APRA’s mortgage serviceability buffer
The sharp rise in the official cash rate has seen mortgage rates pushing up towards the Australia Prudential Regulation Authority’s (APRA) mortgage serviceability buffer.
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Real Estate News
Highest auction clearance rate since late May
Sydney led the charge as the auction market recorded its strongest preliminary clearance rate since late May, with 1883 properties going under the hammer across the combined capitals.
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Rising rates cool New Zealand property prices
Rising interest rates are continuing to put pressure on home prices in New Zealand, with the latest data from CoreLogic showing values fell another 1.3 per cent in October.
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RiTA picks up Industry Innovation Award for third consecutive year
RiTA, the AI-powered lead generation assistant for real estate professionals, has been recognised with the Industry Innovation Award at the Real Estate Institute of Queensland awards.
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Real Estate News
Melbourne Cup weekend sees auction volumes and clearance rate dip
Auction volumes dipped this week, with the preliminary clearance also falling to its lowest level since late August.
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Unit prices falling slower than houses
Unit values across the country are likely to be more resilient during the current market downturn according to an expert.
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Sydney property prices have fallen 10 per cent since February
Property prices in Sydney continue to feel the effects of the downturn, with new data showing values have now declined 10.1 per cent from their peak, according to CoreLogic.
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Real Estate News
Auction volumes rise above the 2000 mark
Auction volumes have risen above the 2000 mark for just the third time since June but still remain well below the number of properties going under the hammer this time last year.
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INDUSTRY NEWS
Could property prices return to pre-Covid levels?
National property prices would need to fall 16.7 per cent for values to be back at pre-Covid levels according to CoreLogic.
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INDUSTRY NEWS
Rising interest rates weigh on median home prices: HTW
The Reserve Bank of Australia’s sharp tightening cycle has started to see median home prices fall across the country, according to the latest Herron Todd White (HTW) Month in Review.
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