First home buyers in Victoria lowest in 23 years

From a first home buyer perspective, there is something very wrong with the housing market in Victoria. In February, the most recent data available from the Australian Bureau of Statistics (ABS) showed that the total number of dwellings financed for first home buyers had sunk to a 23 year low. In February there were 1,402 [...]

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Our capital city population is booming but our capital city supply side response is dismal

The Australian Bureau of Statistics has recently released demographic data at a capital city level to June 2013.  We have previously covered the population data on this blog however, when the data is paired with dwelling approvals data over the same period there are some very interesting findings. Over the 12 months to June 2013, [...]

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Auction action: a wrap of the weekend auction markets: Week ending 13 April 2014

Auction volumes high across the capital cities, with Sydney breaking all time record. There were a total of 3,491 capital city auctions held across Australia last week, up from 2,692 over the previous week. With auction volumes at the highest levels seen so far this year, clearance rates increased from 66.2 per cent over the [...]

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RP Data market preview, Melbourne: Week ending 13 April, 2014

There are 1,412 auctions scheduled this week in Melbourne compared to 626 this time last year. With 1,400 also scheduled in Sydney this weekend will provide a rare opportunity to compare the two capital city auction markets. The unprecedented increase in the number of auctions is part of a wider rise in homes on the [...]

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Housing finance data for February 2014

Housing finance data for February 2014 was released early today by the Australian Bureau of Statistics (ABS).   The data showed that over the month there were 52,460 owner occupier housing finance commitments. The number of owner occupier housing finance commitments was at its highest level since October 2009 over the month.  Owner occupier housing finance [...]

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Private sale market in Melbourne continues to tighten

The weekly auction market may capture the attention of many but just under 70 per cent of all homes in Melbourne are sold at private sale. While this market segment may not have a convenient weekly statistic that  summarises the level of demand and supply, other data in RP Data’s suite of information  supports a [...]

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Auction action: a wrap of the weekend auction markets: Week ending 6 April 2014

Melbourne’s preliminary clearance rate falls to the lowest reading so far this year. There were 2,669 auctions held across the combined capital cities last week, having fallen from 3,039 over the previous week. While volumes were down when compared to the previous week, it is expected that this coming week will change that with auction [...]

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RP Data market preview, Melbourne: Week ending 6 April, 2014

There are twice as many auctions this week as there was this time last year. This week RP Data is expecting 1,120 auctions in Melbourne compared to only 554 this time last year. Last weeks result showed that increased stock numbers at auction and in the market generally are having an impact with a comparatively [...]

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Melbourne home value growth tops the nation

Melbourne property values have increased in March as demand strengthened leading to the largest rise of all capital cities over the first quarter of 2014. The Melbourne property market has now moved from recovery into a growth phase. This has been welcomed by the increasing number of vendors who are now more likely to see [...]

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Housing market is absorbing new supply faster than it is being added

The number of unique residential properties advertised for sale across the country over the four weeks to 30 March 2014 was recorded at 243,941.  This figure consists of 47,805 newly listed properties over the four weeks and 196,136 re-listed properties.  As highlighted by the RP Data listings index, there has been a surge in the [...]

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