Sydney property completes a great 2020-21 financial year
Market comment: Sydney property completes a great 2020-21 financial year
Dwelling prices rose 1.9 per cent nationally over June, meaning that housing values rose a total of 13.5 per cent over the financial year just ended. CoreLogic's monthly home price index rose 1.9 per cent in June, led by 2.6 per cent growth in Sydney. Sydney has been the fastest-growing major market in the 2021 calendar year, with growth of ...
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Sydney’s property values, still growing but slowing…a little
Market comment: Sydney’s property values, still growing but slowing…a little
Figures from CoreLogic showed that in April the national home value index increased 1.8 per cent, which was historically high for the month but down from the 32-year high of 2.8 per cent rise in March. Then in May, houses once again surged with a 2.2 per cent increase across the nation. CoreLogic's research director Tim Lawless said that buyer ...
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Sydney price surge continues, with a few signs of slowing
Market comment: Sydney price surge continues, with a few signs of slowing
Australian housing values are surging at their fastest rate in 32 years. Residential values rose 1.8 per cent in April across Australia. This was slightly down from the 2.8 per cent posted in March, which was the fastest rate of growth since 1988, according to data firm CoreLogic. Sydney led the race again in April with values rising 2.4 per ...
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New records set as Sydney market’s rise is fastest in 32 years
Market comment: New records set as Sydney market’s rise is fastest in 32 years
New records set as Sydney market's rise is fastest in 32 years Here's what we said on these pages ten years ago, in a Market Comment article 26 March 2011 titled ‘Sydney property is still well-priced': “Median prices in Sydney remain the highest in the nation; houses are selling at a median price of $588,250 and units are selling at ...
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Sydney market highs prove sustainable, RBA’s not worried
Market comment: Sydney market highs prove sustainable, RBA’s not worried
Can Sydney housing really go this much higher? The CoreLogic national home value index showed Sydney was Australia's strongest capital city market in the month of February, rising 2.5 per cent – the largest monthly rise since 2003. The median price for a house at auction in Sydney has reached a record high of $1.68 million, and the auction ...
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Cashed-up buyers and ‘wounded underbidders’ drive market to new highs
Market comment: Cashed-up buyers and ‘wounded underbidders’ drive market to new highs
The Australian property market is nothing short of bulletproof, as shown by new data from CoreLogic. Despite the country's first recession in nearly three decades, national home values – including both houses and apartments – ended 2020 three per cent higher. Another recent report, the Domain House Price index, showed the nation's median detached house price hit a high of ...
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A surprisingly good year lies ahead
A surprisingly good year lies ahead
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Sydney property in demand, stamp duty to go and FOMO returns
Sydney property in demand, stamp duty to go and FOMO returns
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Sydney property demonstrates survival of the fittest
Market comment: Sydney property demonstrates survival of the fittest
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Stability brings optimism and buyers to the Sydney market
Market comment: Stability brings optimism and buyers to the Sydney market
The Sydney property market continues to display strength despite the pandemic's impacts on the Australian economy. In part, this is a reflection of a national trend with the latest data from September showing a rise in new listings in all capital cities with six of the eight capitals recording increases in home values. To quote The Guardian's economic expert, Greg ...
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Sydney housing outpaces wage rises, becomes more affordable
Market comment: Sydney housing outpaces wage rises, becomes more affordable
Figures from Domain show that Sydney house prices finished the financial year 10.5 per cent higher than the previous year. Wages growth in the same period, however, went up by just 1.8 per cent over the same period, ABS figures show, which meant housing prices outperformed wages by 8.7 percentage points. This has been a trend for some time. In ...
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Sales and clearance rates show Sydney market resilience
Sales and clearance rates show Sydney market resilience
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Property shortage keeps prices up with offers ‘too good to refuse’
Market comment: Property shortage keeps prices up with offers ‘too good to refuse’
While 2020 is unlike any previous year we've experienced, properties in Australia's capital cities are actually selling faster than at the same time in 2019. Domain data shows that it took 69 days on average to sell a Sydney house by private treaty in the June 2020 quarter, while it took 87 days on average a year earlier. It was ...
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Price falls limited as Sydney property looks for Spring resurgence
Market comment: Price falls limited as Sydney property looks for Spring resurgence
The Sydney property market is signalling that it's anxious to return to normal, or at least fast forward to its ‘new normal', whatever that turns out to be. The number of new listings at scheduled auctions continues to increase while weekly clearance rates are holding firm in the high 60 per cent levels. In May, house prices fell just 0.4 ...
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Buyers return and the Sydney market shows signs of recovery  
Market comment: Buyers return and the Sydney market shows signs of recovery  
This time last month the Coronavirus was threatening to overwhelm our health systems and our economy. It was hard to find any positive news about the property market. However, in these fast-moving times we can now see some of that hoped-for light at the end of the tunnel, although it's going to take a while to determine what our ...
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Sydney property catches a virus and recovery’s not yet in sight
Market comment: Sydney property catches a virus and recovery’s not yet in sight
Was our last article really just a month ago? In our March 2020 article reasonably entitled “Recovery roars ahead”, we talked about Sydney's ‘improved and rising market' and how fewer than half the homes for sale in the previous month had been on the market for more than thirty days. We also noted that Sydney property prices were on track ...
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Recovery roars ahead, new planning changes, and first-home buyers return
Market comment: Recovery roars ahead, new planning changes, and first-home buyers return
It was just a year ago that price discounting in Sydney property sales was at its highest level in years, giving property buyers a rare opportunity to find a bargain in Australia's most expensive market. Twelve months later, vendors are now selling into an improved and rising market and few houses or apartments are being discounted to stimulate sales. Even ...
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Great expectations and the decade ahead
Market comment: Great expectations and the decade ahead
Australians are eager to buy houses according to the latest Household Spending Intentions (HSI) survey released by the Commonwealth Bank. The HSI combines real-time spending data from CBA household transactions with search information from Google Trends, then maps the results to official data on consumer spending to provide an indication on householders' future spending patterns. “Home buying intentions spiked higher ...
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A new decade with new highs in the year ahead
Market comment: A new decade with new highs in the year ahead
Australia's capital city property markets have enjoyed a pretty good end to 2019, with five of eight finishing the year showing price rises. Overall, national average dwelling prices rose 1.1 per cent in December and 2.3 per cent over the full year. Sydney and Melbourne were the top performers, both with annual gains of 5.3 per cent, although only Hobart ...
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More than a recovery - rates and FOMO drive a new boom
Market comment: More than a recovery - rates and FOMO drive a new boom
Writing in The Guardian, Martin Farrer, the publication's UK/US site editor recently posed a headline question: “From freefall to boom: what the hell is happening to Australia's housing market?” That's a very interesting question, and this month we set out to answer it for you. Mr Farrer backed up his editorial question with a reminder of our recent past: “Earlier ...
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