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Fewer buyers results in greater months of supply

Based on the relationship between demonstrated housing demand and advertised stock levels we are seeing relatively more stock available for sale compared to demand for that stock across the capital cities at the moment. The months of supply figure compares the number of unique properties advertised for sale to the number of transactions in the […]

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High-rise unit approvals have fallen off a cliff

Monthly building approvals shows that the recent contraction in approvals has continued.  In fact, the number of dwellings approved for construction in March 2017 was -23.7% lower than its historic peak which occurred in August of last year.  The data now clearly looks like a case of what goes up must come down and the […]

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Australians continue to choose to move to Victoria

Demographic data from the Australian Bureau of Statistics (ABS) showed that Australia’s estimated resident population was 24,220,192 persons at the end of September 2016.  Overt the 12 months to September 2016 the national population increased by 1.5% or by 348,695 persons.  The 1.5% growth in the population was the largest annual rise since September 2014 […]

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Deteriorating housing affordability in Sydney and Melbourne due to both demand and supply

Housing affordability is becoming a very hot political topic at the moment and it is no wonder why.  When we look at the latest CoreLogic Home Value Index results for February 2017, they show that combined capital city home values increased by 1.4% taking them 11.7% higher over the past year.  Since the end of […]

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New house approvals now start to fade

Building approvals data for January 2017 was released earlier today by the Australian Bureau of Statistics.  According to the release there were 17,412 dwellings approved for construction over the month which was 1.8% higher over the month but -12.0% lower year-on-year.  In January 2017, the 17,412 dwellings approved for construction was 19.1% lower than its […]

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Capital city vacant land selling prices continue to rise as prices fall in regional Australia

The median selling price of vacant land continued to climb in capital city markets throughout 2016 while in regional areas prices have fallen.  The other big shift over the past 12 months has been the fairly significant increase in lot sizes after they have trended lower over many years. Throughout 2016, the median selling price […]

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Has developer confidence taken a hit as dwelling commencements sag?

Building Activity data for September 2016 was released earlier today by the Bureau of Statistics.  While this is not one of the major economic releases each quarter, it does include a lot of really important data relating to housing construction.  Therefore, it is important to unpack the release and have a look at what the […]

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Dwelling approvals bounce in November but don’t expect it to continue

According to the Australian Bureau of Statistics (ABS) November 2016 building approvals data there were 17,569 houses and units approved for construction across the country over the month.  Based on the seasonally adjusted series, the number of dwelling approvals rose by 7.0% over the month due to a substantial rebound in unit approvals.  Despite an […]

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Sharp fall in unit approvals in October likely marks the peak of the residential construction cycle

The Australian Bureau of Statistics October dwelling approvals data likely marks a significant turning point for unit supply, with the latest numbers showing unit approvals have plunged to their lowest levels in 2 years. The October data showed unit approvals have consistently trended lower since reaching a recent high point in July earlier this year. […]

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The slide in construction work done continues over the September 2016 quarter

The Australian Bureau of Statistics (ABS) released data on construction work done over the September 2016 quarter earlier this week.  The data showed that the value of work done fell to its lowest level since December 2010. Over the September 2016 quarter, $46.1 billion worth of construction was completed.  The $46.1 billion in work was […]

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