As the number of held continues the seasonal rise, clearance rates are consistently trending lower, with the weighted average clearance rate recording seven weeks in a row below There were 2,384 held across the combined capital cities this week, returning a preliminary auction clearance rate of 46.8 per cent, increasing on last week when the final auction clearance rate fell to its lowest reading since June 2012 (42.7 per cent, 1,541 ). Given this week s preliminary result is the lowest we ve seen yet, it s likely that as final results are collected, this week s final clearance rate could come in lower again, potentially nudging the low 40 per cent range. The weighted average clearance rate has continued to track below 50 per cent for 7 consecutive weeks now; this is a considerably softer trend to what was seen over the same period last year when clearance rates were tracking around the low-mid 60 per cent range. The weakening weighted result is largely attributed to softening conditions across the two largest auction markets of Melbourne and Sydney; these two cities have accounted for 83 per cent of all held so far this year. A preliminary clearance rate of 48.3 per cent was recorded across Melbourne this week, with 1,141 held across the city, this was an increase on last week s 45.7 per cent final result when a much lower 266 were held. In Sydney, 48.4 per cent of homes sold at auction this week, after last week saw Sydney s final auction clearance rate fall to its lowest since December 2008 (42.6 per cent). Volumes were relatively steady across Sydney weekon-week with 830 held, up on the 813 held last week. Results across each of the smaller markets were varied this week, with Adelaide recording the highest preliminary auction clearance rate of 47.5 per cent, while in Perth only 20 per cent of cleared. City 100% auction statistics (preliminary) 100% 10% Clearance rate Total CoreLogic auction results Cleared Uncleared Clearance rate (last year) 10% Total (last year) Sydney 48.4% 830 533 258 275 58.5% 1,102 Melbourne 48.3% 1,141 905 437 468 69.2% 1,296 Brisbane 32.1% 139 84 27 57 44.1% 209 Adelaide 47.5% 122 61 29 32 62.0% 128 Perth 20.0% 39 10 2 8 50.0% 40 Tasmania n.a. 3 1 1 0 n.a. 7 Canberra 45.0% 110 80 36 44 69.7% 125 Weighted Average 46.8% 2,384 1,674 790 884 62.8% 2,907 Weekly clearance rate, Melbourne Weekly clearance rate, Sydney Weekly clearance rate, Brisbane Weekly clearance rate, Adelaide Weekly clearance rate, combined capital cities Weekly auction clearance rate 4 week average Sydney sub-regions Clearance rate Total CoreLogic auction results Central Coast 43.5% 36 23 Baulkham Hills and Hawkesbury 20.0% 35 25 Blacktown n.a. 9 8 City and Inner South 55.9% 85 59 Eastern Suburbs 64.9% 120 77 Inner South West 44.2% 71 43 Inner West 53.5% 62 43 North Sydney and Hornsby 57.8% 139 71 Northern Beaches 45.9% 92 61 Outer South West 25.0% 13 12 Outer West and Blue Mountains n.a. 5 2 Parramatta 41.2% 47 34 Ryde 33.3% 46 24 South West 36.8% 25 19 Sutherland 40.6% 45 32 Melbourne sub-regions Inner 57.3% 198 157 Inner East 43.2% 126 111 Inner South 58.7% 189 133 North East 45.4% 151 130 North West 49.4% 105 89 Outer East 56.5% 81 62 South East 34.3% 121 99 West 42.4% 128 92 Mornington Peninsula 32.1% 38 28 Regional auction results Hunter 42.9% 39 28 Wollongong 37.0% 42 27 Gold Coast 34.5% 51 29 Sunshine Coast 31.8% 41 22 Geelong 40.5% 61 42 1 The above results are preliminary, with final auction clearance rates published each Thursday. CoreLogic, on average, collects of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
$370,640 $310,500 $345,000 $317,500 $541,500 $476,250 $480,000 $450,000 $460,000 $381,500 $417,000 $540,000 $688,000 $721,000 $662,500 $860,000 home value s Weekly Monthly Yr to date 12 mth Sydney -0.1% -0.5% -6.1% -7.4% Melbourne -0.1% -0.6% -4.9% -4.9% Brisbane 0.2% 0.1% 0.5% 0.4% Adelaide -0.1% 0.1% 1.0% 1.6% Perth -0.4% -0.8% -3.5% -3.8% Combined 5 capitals -0.1% -0.4% -4.4% -5.1% *The monthly is the over the past 28 days. Daily home value index, 5 capital city aggregate 150 145 140 135 130 125 120 115 110 Nov 15 May 16 Nov 16 May 17 Nov 17 May 18 Nov 18 Results are based on the CoreLogic Daily Home Value Index. Further information and daily updates on the index results are available from http://www.corelogic.com.au/research/daily-indices.html. properties listed for sale No of new listings 12 mth (%) No of total listings 12 mth (%) Sydney 7,956-8.2% 31,389 16.7% Melbourne 9,717-3.2% 37,857 17.8% Brisbane 4,791-1.9% 21,910 3.2% Adelaide 2,486-0.6% 8,863-3.1% Perth 4,268-0.1% 21,506 3.1% Hobart 487 14.6% 1,203 1.9% Darwin 190 31.9% 1,463-6.9% Canberra 970 0.2% 2,604 5.0% Combined capitals 30,865-3.2% 126,795 9.8% Number of homes for sale, combined capital cities 160,000 140,000 Total listings New listings 120,000 100,000 80,000 60,000 40,000 20,000 0 Nov 10 Nov 11 Nov 12 Nov 13 Nov 14 Nov 15 Nov 16 Nov 17 Nov 18 These results are calculated across properties that have been advertised for sale over the past 28 days. A new listing is one which has not been advertised for sale over the past 6 months, total listings include new listings and properties which have been previously advertised. private treaty median prices house and unit prices Number of Sales HOUSES price Number of Sales UNITS price Sydney 1,897 $860,000 1,035 $688,000 Melbourne 2,346 $721,000 1,131 $540,000 Brisbane 1,274 $541,500 322 $370,640 Adelaide 652 $476,250 150 $310,500 Perth 1,024 $480,000 239 $345,000 Hobart 189 $450,000 42 $317,500 Darwin 26 $460,000 16 $381,500 Canberra 232 $662,500 123 $417,000 Combined Capitals 7,640 $663,024 3,058 $536,928 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 Houses Units Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin Canberra Private treaty sales represent around 85% of all dwelling sales across the country. The statistics are calculated across houses and units sold over the most recent four week period. Records without a valid sale price have been excluded from the analysis. 2
-16.1% 39 days 33 days 33 days 31 days 30 days 28 days 42 days 36 days 47 days 63 days 60 days -10.7% 76 days 77 days 77 days 81 days -7.4% -7.3% -7.7% -8.0% -6.9% 105 days -6.0% -4.8% -3.3% -2.5% 0.0% median time on market and average vendor discounting results TOM HOUSES Avg Vendor Disc. TOM UNITS Avg Vendor Disc. Sydney 39 days -7.4% 42 days -7.3% Melbourne 33 days -6.0% 33 days Brisbane 63 days 76 days Adelaide 47 days 60 days -6.9% Perth 77 days -7.7% 77 days -10.7% Hobart 31 days -4.8% 30 days n.a. Darwin 81 days -8.0% 105 days -16.1% Canberra 28 days -3.3% 36 days -2.5% time on market 120 days 110 days 100 days 90 days 80 days 70 days 60 days 50 days 40 days 30 days 20 days 10 days days Houses Units Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin Canberra Average vendor discounting 0% -1% -2% -3% -4% -5% -6% -7% -8% -9% -10% -11% -12% -13% -14% -15% -16% -17% Houses Units Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin Canberra Time on market (TOM) is simply the middle number of days between when a property is first listed for sale and the contract date. The rate of vendor discounting is the average percentage difference between the original listing price and the final selling price. The statistics are calculated across results received by CoreLogic over the past week and include properties transacted over the past four weeks. The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis. The analysis also excludes results where there are less than 10 observations. Mortgage market activity Region Index value Month on month Month on month (trend) National 118.4 4.2% 0.6% NSW 146.9 4.9% 0.4% QLD 110.9 0.7% 0.6% SA 95.8 9.1% 3.4% TAS 84.5-10.9% -1.0% VIC 123.6 4.7% -0.4% WA 97.6 7.6% 1.3% CoreLogic Mortgage Index 180 160 140 120 100 80 60 40 20 0 Mortgage Index Mortgage Index (rolling three month trend) ABS Owner Occupier housing finance commitments (monthly) Nov 14 May 15 Nov 15 May 16 Nov 16 May 17 Nov 17 May 18 Nov 18 CoreLogic systems monitor more than 100,000 mortgage activity events every month across our 4 main finance industry platforms. Monitoring the activity events across this platform provides a unique and timely lead indicator to housing finance commitments. The index shows an 81% correlation with the ABS housing finance data series (88% using the seasonally adjusted series). Based on the strong correlation and significant number of events being monitored, the Mortgage Index provides the most timely and holistic measure of mortgage market activity available. 3
Top two sales over the past week, states and territories Australian Capital Territory 47 Barrallier Street, Griffith, ACT 4 bed, 3 bath, 2 car house $2,650,000 Peter Blackshaw Manuka 32 Hutchins Street, Yarralumla, ACT 5 bed, 3 bath, 2 car house $2,000,000 Belle Property Kingston New South Wales 42 Coolong Road, Vaucluse, NSW 5 bed, 4 bath, 2 car house $8,800,000 LJ Hooker Double Bay 5/1 Billyard Avenue, Elizabeth Bay, NSW 4 bed, 3 bath, 3 car unit $8,250,000 Richardson & Wrench Elizabeth Bay/Potts Point Northern Territory 13 Kapalga Street, Tiwi, NT 3 bed, 2 bath, 2 car house $540,000 Ray White Nightcliff/Stuart Park 7 Price Court, Rosebery, NT 4 bed, 2 bath, 2 car house $515,000 LJ Hooker Darwin Queensland 27 Sutton Street, Chelmer, Qld 5 bed, 4 bath, 2 car house $4,830,000 Adcock Prestige Brisbane 10 Charlane Avenue, Indooroopilly, Qld 5 bed, 4 bath, 2 car house $1,975,000 McGrath Estate Agents 4
Top two sales over the past week, states and territories South Australia 3 Bakewell Street, Tusmore, SA 5 bed, 4 bath, 3 car house $1,680,000 Turner Real Estate Adelaide 3b Eringa Avenue, Glenunga, SA 3 bed, 2 bath, 2 car house $1,300,000 Ray White Adelaide Tasmania 111 Elphin Road, Newstead, Tas 4 bed, 3 bath, 3 car house $1,450,000 Bushby Property Group Launceston 57 Quayle Street, Sandy Bay, Tas 3 bed, 1 bath, 2 car house $940,000 Petrusma Property Victoria 29 Dorrington Avenue, Glen Iris, Vic 4 bed, 2 bath, 3 car house $3,850,000 Jellis Craig Armadale 22 John Street, Kew, Vic 4 bed, 3 bath, 2 car house $3,800,000 Buxton Balwyn Western Australia 1 Riley Road, Claremont, WA 6 bed, 5 bath, 4 car house $6,200,000 Ray White Cottesloe/Mosman Park 5 Sunbird Way, Gwelup, WA 4 bed, 2 bath, 2 car house $940,000 Realmark Coastal North Beach 5
About CoreLogic CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia s most comprehensive property databases, the company s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information. With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au Disclaimers In compiling this publication, RP Data Pty Ltd trading as CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information. Queensland Data Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2018. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the data. Data must not be used for direct marketing or be used in breach of the privacy laws. South Australian Data This information is based on data supplied by the South Australian Government and is published by permission. The South Australian Government does not accept any responsibility for the accuracy or completeness of the published information or suitability for any purpose of the published information or the underlying data. New South Wales Data Contains property sales information provided under licence from the Land and Property Information ( LPI ). CoreLogic is authorised as a Property Sales Information provider by the LPI. Victorian Data The State of Victoria owns the copyright in the Property Sales Data which constitutes the basis of this report and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the information contained in this report and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied. Western Australian Data Based on information provided by and with the permission of the Western Australian Land Information Authority (2018) trading as Landgate. Australian Capital Territory Data The Territory Data is the property of the Australian Capital Territory. No part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or transmitted without prior written permission. Enquiries should be directed to: Director, Customer Services ACT Planning and Land Authority GPO Box 1908 Canberra ACT 2601. Tasmanian Data This product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania. The Crown in Right of Tasmania and its employees and agents: a) give no warranty regarding the data's accuracy, completeness, currency or suitability for any particular purpose; and b) do not accept liability howsoever arising, including but not limited to negligence for any loss resulting from the use of or reliance upon the data. Base data from the LIST State of Tasmania http://www.thelist.tas.gov.au 6