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Outlook for 2015-16 financial year

So where have we been? Over the first 11 months of the 2014-15 financial year, combined capital city home values have risen by 7.5% according to the CoreLogic RP Data Home Value Index.  The Index is weighted based on the number of dwellings in each city and looking more closely at the results only Sydney […]

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Some ideas about measuring the relativity of housing costs

Measuring the cost of housing and housing affordability is such an abstract idea because it is not a one size fits all measure and there are so many factors which contribute to affordability or unaffordability. Most of the common measures have one or a number of glowing weaknesses which I will cover. Interest rates What […]

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Inflation adjusted home value growth: Sydney and Melbourne are the only capital cities where dwelling values have risen at a faster pace than inflation over the past five years

The Australian Bureau of Statistics (ABS) released Consumer Price Index (CPI) data for the March 2015 quarter yesterday. The data showed that over the quarter, headline inflation was recorded at 0.2% taking annual inflation to 1.3%. The Reserve Bank’s (RBA) preferred measures of underlying inflation, the trimmed mean and weighted median, were recorded at an […]

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Melbourne residential market provides highest growth over quarter

The February CoreLogic RP Data Home Value Index results (read results here) showed the dwelling prices rose at a greater rate over the last three months than any other capital city. When viewed in conjunction with the strengthening auction market this data confirms the solid position intending sellers now find themselves in.  This will also encourage […]

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Melbourne house owners on track for another year of growth

Residential dwelling values in Melbourne returned to trend in January with a 2.7 per cent rise recorded by CoreLogic RP Data in the latest home value indices results (read results here). This sets the Melbourne property market up for another stable year with moderate value increases likely, particularly in the detached house market. Melbourne home […]

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How does the current growth cycle compare to the 2001 to 2004 boom?

In this week’s blog we take a look at how current housing market conditions compare with the boom in home values between 2001 and early 2004.  Immediately a point to note is that the current housing market upswing came off the back of dwelling values falling over the previous two years. If we assume that […]

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Why are home values still rising?

According to the RP Data CoreLogic Home Value Index, combined capital city home values have increased by 10.9% over the 12 months and by 18.7% over the current growth phase.  With many economic indicators heading in the wrong direction it seems counter-intuitive that home values would continue to rise as strongly as they are.  The […]

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How important are clearance rates in the housing market?

Over the first five months of the year, across the combined capital cities of Australia, RP Data has recorded 35,367 auctions of which 24,320 (69%) sold either under the hammer or shortly before/after the auction date.  Over the same time frame we have recorded a total of 128,437 house and unit sales.  Based on these […]

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Don’t expect Melbourne values to rise by 44% over the coming year

It was surprising to see an article published by Fairfax late last week that criticized our publication of monthly housing market statistics.  The article (that can be viewed here) remarks that the RP Data indices are ridiculous and implies that the monthly results are misleading.  The theme of the article focusses on the monthly result […]

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Melbourne house values rise in July as units show no growth

The RP Data Rismark Home Value July index results shows that Melbourne dwelling values continued to grow in July with a new peak reached for houses and minimal value growth for units Based on current trends so far this year, vendors looking to sell houses in spring are well placed to do so. In the […]

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