Archive | 2013

Chart 4

Housing demand increases to highest level since September 2009

Data released by the Australian Bureau of Statistics (ABS) earlier this week showed that the national population increased by 407,027 persons over the 12 months to June 2013 to reach an estimated 23,130,931 persons.  The increase in new residents equates to a growth rate of 1.79% over the year making it the greatest annual increase […]

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Melbourne housing market blog

The numbers that matter in 2013 for the Victoria market…

As we near the year’s end there are a range of key numbers that can help explain the property market this year. This year’s results show that the residential real estate market was certainly healthier than last year, however it still remains below its peak despite being supported by record low interest rates. The high […]

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RP Data market preview, Melbourne: Week ending 22 December

This is the last auction weekend for 2014. I expect that after this weekend a majority of activity in the real estate market will be for private sales and the odd auction in a coastal area. By the end of this weekend Melbourne will have seen approximately 36,000 auctions compared to around 28,000 last year […]

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RP Data market review, Melbourne: Week ending 15 December 2013

A preliminary auction clearance rate of 66.6 per cent was reached from 1,244 auctions this week in Melbourne. This is a solid outcome after the busiest six weeks in Melbourne’s auction market history. Over this time there has been an average of 1,380 auctions each week; a record for any single week in any other […]

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RP Data market preview, Melbourne: Week ending 15 December

Last weeks clearance rate of 63.3 per cent was both on trend and the lowest since April this year. The weekly clearance rate is now more than 10 points lower than the high of 76.2 per cent in late August and shows that high stock numbers are having an impact on the market. This week […]

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Is the reduction of clearance rates in Melbourne expected?

Over the course of the past two months the weekly clearance rate in Melbourne has dropped from the mid 70 range to the mid 60 range; the reasons for this are many and varied and have been discussed and debated. There is no doubt that the record volumes of homes for sale at auction have […]

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Chart 6

Investors climb to near record high levels of market participation

In last week’s RP Data Research Blog I discussed what I believe are some of the potential pitfalls of such a high level of investment activity in the housing market.  The housing finance data for October 2013 was released by the Australian Bureau of Statistics earlier this week and it showed an ongoing escalation in […]

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Melbourne housing market - run over 40 years

The very long run of the Melbourne housing market

RP Data’s median house and unit prices in Melbourne extend over nearly 40 years from 1974 till now. It clearly shows that the last decade has been the most volatile proceeded by much more moderate cycles in house prices. The first comparatively rapid rise in prices was in 1988 through to 1989 when median prices […]

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RP Data national auction preview

RP Data market review, Melbourne: Week ending 8 December 2013

A preliminary auction clearance rate of 64.1 per cent was reached from 1,315 auctions this week in Melbourne. After an unprecedented five consecutive 1,000 plus auction weekends it is not a surprise that the clearance rate has continued to cool. Especially once you consider that the current rise in auction listings is outstripping the broader […]

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Chart 4

Value growth more moderate in current growth phase, however the potential downside risks may be greater

The current value growth phase across Australia’s combined capital cities is nowhere near as strong as other growth phases over recent times.  Although home values are rising, they are doing so at a much more moderate pace than during previous growth phases.  Home values are higher now than they have been in the past however, […]

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