Weekly Market Update (1 Sept 2023)

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Weekly Market Update (1 Sept 2023)
  1. Home Value Index (Source: CoreLogic)

    The CoreLogic Home Value Index for August 2023 shows that the housing market in Australia is continuing to recover, with national home values rising by 0.8%. This marks the sixth consecutive monthly increase and a slight acceleration from July. The recovery is broad-based, with every capital city except Hobart experiencing a rise in dwelling values. Sydney and Brisbane have seen the most significant recoveries, while some other capital cities are relatively flat. House values have shown a sharper recovery compared to unit values. Regional housing markets are mixed, with some areas experiencing declines in values. The Gold Coast and Sunshine Coast are among the top-performing markets. Advertised supply levels remain low, which is supporting upward pressure on home values. Rental growth is slowing down in most areas but remains high compared to the decade average.

 

  1. CoreLogic Auction Results (Week ending 27 August 2023)
    (Total Auction / Clearance Rate)

    – Sydney: 867 / 69.1%

    – Melbourne: 1,072 / 64.7%

    – Brisbane: 121 / 62%

    – Perth: 10 / 20%

    – Canberra: 82 / 56.1%

    – Adelaide: 126 / 83.3%

    – Tasmania: NA / 0%

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If you’re interested in staying updated on the Australian housing market, feel free to reach out to us. You can also follow our Facebook page and Instagram for regular updates on new listings, market trends, statistics, and insightful information.

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