In a recent letter to all Australian authorised deposit-taking institutions (ADIs) entitled ‘Embedding Sound Residential Lending Practices,’ APRA indicated that lenders need to limit lending at very high debt to income levels.
Auction activity across the combined capital cities is set to remain relatively steady this week, with CoreLogic currently tracking 2,164 auctions, increasing slightly on last week’s final figures which saw 2,100 auctions held.
There were 2,089 homes taken to auction across the combined capital cities this week, returning a preliminary auction clearance rate of 60.3 per cent.
In this week’s Property Pulse we look at each capital city across the country and compare how close to the city you can get where houses typically cost under $500,000.
With the latest release of lending finance data from the Australian Bureau of Statistics, we can now analyse the value of mortgage lending across each of the states and territories up until March 2018.
Following on from what CoreLogic commercial research analyst Eliza Owen describes as “a relatively subdued quarter of activity in Q1 2018”, the number of projects moving into construction surged over April.
Preliminary clearance rate weakens and auction volumes drop slightly across the combined capital cities.
With the release of regional population and migration data for 2016-17, in this week’s Pulse we take a look at where people migrating away from capital cities are ending up moving to.
Dwelling values, particularly those in Sydney and Melbourne, have been falling now for a number of months.
Treasurer Scott Morrison’s budget speech for 2018/19 featured a reflection on the physical transport assets being delivered by government.
The combined capital cities are expected to see a lower volume of auctions this week with CoreLogic currently tracking 2,055 auctions, down from 2,311 last week.
It’s intuitive that housing market conditions would have a close relationship with credit flows; when funds are flowing freely and rates are low, home buyers and investors step up their presence in the housing market and when credit is harder to come by or more expensive, things slow down.