Core Logic Market Indicator

Core Logic Market Indicator

Core Logic Market Indicator


POSTED BY Mary Piraino ON 02 Dec 2019

CoreLogic Property Market Indicator Summary All data to week ending 1 December 2019

Over 3,000 homes taken to auction across the combined capital cities; the busiest week of the year There were over 3,000 capital city homes taken to auction this week, making it the busiest week for auctions we’ve seen this year; in fact the largest number since March last year.  Of the 3,058 homes auctioned, according to preliminary figures, 78.9% returned a successful result, coming in higher than last week’s final clearance rate of 68.5% across a lower 2,612 auctions and significantly higher than final results from one year ago (41.3%, 2,749 auctions).  As usual, we expect to see some downward revision by final collection. Results across the individual property types saw houses outperform units with a success rate of 79.9%, while 76.6% of units sold at auction. Melbourne was host to 1,497 auctions this week with preliminary results showing a clearance rate of 78.3%, increasing from last week when the final clearance rate fell to 70.1% across 1,221 auctions. Over the same week last year, the auction clearance rate was significantly lower with 42.7% of the 1,378 auctions returning a successful result. There were 1,131 auctions held in Sydney this week making it the busiest week of the year for the city with preliminary results showing an 84.7% clearance rate, up from 76% across 940 auctions last week. Over the same week last year 937 Sydney homes were taken to auction across the city returning a clearance rate of 41.6%. Results were mixed across the smaller auction markets, with Adelaide and Canberra showing a preliminary clearance rate above 70%, while only around half of the homes taken to auction in Brisbane and Perth were successful. The latest results provide a timely test of the housing markets depth, with clearance rates holding up despite the large number of properties taken to market.

Capital city ,Weekly change, Monthly change

Sydney 0.6% 2.6% 3.6% 1.7% Melbourne 0.7% 2.2% 3.8% 2.4% Brisbane 0.1% 0.8% -0.3% -0.5% Adelaide 0.2% 0.5% -0.7% -0.5% Perth 0.1% 0.4% -6.7% -7.7% Combined 5 capitals 0.5% 1.9% 1.8% 0.5%

Results are based on the CoreLogic Daily Home Value Index.  Further information and daily updates on the index results are available from http://www.corelogic.com.au/research/daily-indices.html.

*The monthly change is the change over the past 28 days.

Private treaty sales represent around 85% of all dwelling sales across the country.  The statistics are calculated across houses and units sold over the most recent four week period. Records without a valid sale price have been excluded from the analysis.

CoreLogic Property Market Indicator Summary All data to week ending 1 December 2019