As auction volumes return to more normal levels after the festive period slowdown, auction clearance rates are holding higher than late 2017 A preliminary auction clearance rate of 69.1 per cent was recorded across the combined capital cities as auction activity ramped up this week, with a total of 1,963 homes taken to auction, increasing from the 1,490 auctions held last week when (based on final results) 63.7 per cent cleared. While auction activity has increased over the last couple of weeks coming out of the slowdown, volumes are increasing at a slower pace than what was seen over the equivalent period last year (2,291). City auction statistics (preliminary) Clearance rate CoreLogic Total auction auctions results Cleared Uncleared auctions auctions Clearance rate (last year) Total auctions (last year) Sydney 74.3% 718 533 396 137 80.6% 856 Melbourne 70.7% 923 768 543 225 75.7% 1,091 Brisbane 48.9% 120 94 46 48 47.1% 117 Adelaide 67.3% 79 52 35 17 65.8% 87 Perth 22.2% 35 18 4 14 31. 42 Tasmania 12.5% 9 8 1 7 40. 6 Canberra 62.9% 79 62 39 23 80.2% 92 Weighted Average 69.1% 1,963 1,535 1,064 471 74.9% 2,291 Weekly clearance rate, Melbourne 10 9 8 7 6 5 4 3 2 1 Weekly clearance rate, Sydney 10 9 8 7 6 5 4 3 2 1 Weekly clearance rate, Brisbane 10 9 8 7 6 5 4 3 2 1 Weekly clearance rate, Adelaide 10 9 8 7 6 5 4 3 2 1 Weekly clearance rate, combined capital cities 9 8 7 6 5 4 3 2 1 Weekly auction clearance rate 4 week average Sydney sub-regions Clearance rate Total auctions CoreLogic auction results Central Coast 55.6% 37 27 Baulkham Hills and Hawkesbury 54.6% 18 11 Blacktown n.a. 11 7 City and Inner South 81. 67 58 Eastern Suburbs 84. 99 75 Inner South West 74.1% 72 54 Inner West 85.7% 57 42 North Sydney and Hornsby 80. 125 90 Northern Beaches 82.9% 57 41 Outer South West 76.9% 15 13 Outer West and Blue Mountains n.a. 7 5 Parramatta 68.2% 27 22 Ryde 58.3% 38 24 South West 50. 27 18 Sutherland 60. 59 45 Melbourne sub-regions Inner 73.3% 168 146 Inner East 69.4% 85 72 Inner South 70.4% 125 98 North East 70.6% 92 85 North West 74.8% 111 103 Outer East 66.1% 86 59 South East 71. 83 69 West 68.4% 140 117 Mornington Peninsula 62.5% 27 16 Regional auction results Hunter 92.6% 38 27 Wollongong 56.5% 29 23 Gold Coast 40.9% 47 22 Sunshine Coast 52.9% 37 17 Geelong 88.6% 52 44 1 The above results are preliminary, with final auction clearance rates published each Thursday. CoreLogic, on average, collects 9 of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
$390,000 $313,000 $532,000 $439,500 $390,000 $515,000 $440,000 $326,000 $350,000 $490,000 $414,250 $511,850 $685,000 $691,500 $647,500 $835,000 CoreLogic Property Market Indicator Summary home value s Daily home value index, 5 capital city aggregate Weekly Monthly Yr to date 12 mth 150 145 Sydney -0.2% -0.8% -1.4% 0.1% 140 135 Melbourne -0.1% -0.2% -0.3% 7.3% 130 Brisbane -0.1% -0.2% -0.2% 1.9% 125 Adelaide -0.1% -0.2% -0.3% 2.3% 120 Perth -0.1% -0.3% -0.5% -2.8% 115 Combined 5 capitals -0.1% -0.4% -0.8% 2.4% 110 *The monthly is the over the past 28 days. Feb 15 Aug 15 Feb 16 Aug 16 Feb 17 Aug 17 Feb 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 8,119 3.4% 24,407 23.4% Melbourne 8,570-0.2% 27,643 3.3% Brisbane 4,293-7. 16,311-16.5% Adelaide 2,034-5.4% 8,105 0.1% Perth 4,345 8. 20,996-1.9% Hobart 357-19.4% 1,038-37.8% Darwin 164-1.2% 1,481-2.3% Canberra 802-2.4% 2,025-0.3% Combined capitals 28,684 0.1% 102,006 1.2% 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 Feb 10 Feb 11 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 1,855 $835,000 1,186 $685,000 Melbourne 1,821 $691,500 982 $511,850 Brisbane 1,347 $532,000 340 $390,000 Adelaide 678 $439,500 194 $313,000 Perth 1,133 $515,000 316 $390,000 Hobart 169 $440,000 50 $326,000 Darwin 29 $490,000 17 $350,000 Canberra 182 $647,500 116 $414,250 Combined Capitals 7,214 $639,401 3,201 $531,681 $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
30 days 44 days 38 days 36 days -9.6% -9.3% 63 days 64 days 61 days 73 days 68 days 79 days 70 days -7.5% 90 days 84 days 91 days 98 days -5.7% -6.1% -6.4% -4.9% -5.1% -5.4% -4.9% -4.3% -4.3% -4.4% -4. -3.9% 156 days 0. CoreLogic Property Market Indicator Summary median time on market and average vendor discounting results TOM HOUSES Avg Vendor Disc. TOM UNITS Avg Vendor Disc. Sydney 63 days -5.7% 64 days -4.9% Melbourne 44 days -4.3% 61 days -4.9% Brisbane 73 days -5.1% 90 days -6.1% Adelaide 68 days -5.4% 79 days -6.4% Perth 84 days -7.5% 91 days -9.6% Hobart 30 days -4.3% 38 days -4.4% Darwin 98 days -9.3% 156 days n.a. Canberra 36 days -4. 70 days -3.9% time on market 160 days 150 days 140 days 130 days 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 -1% -2% -3% -4% -5% -6% -7% -8% -9% -1-11% Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin Canberra Average vendor discounting 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 (trend) National 113.6 50.6% -9. NSW 141.3 61. -11.8% QLD 112.8 51.3% -6.5% SA 78.2 41.6% -7.3% TAS 85.3 45.9% -8.3% VIC 124.2 44.9% -9.2% WA 88.1 47.1% -7.7% 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) Feb 14 Aug 14 Feb 15 Aug 15 Feb 16 Aug 16 Feb 17 Aug 17 Feb 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. Listing market activity CoreLogic Listing Index Region Index value (seas adj) National 372.5 59.3% 1.8% NSW 396.2 73. 1.3% QLD 265.7 50.5% 4.2% SA 321.9 54.3% -0.2% TAS 138.9 47.3% -2.1% 450 400 350 300 250 200 150 100 VIC 533.5 64.8% -1.1% WA 522.5 44.3% 6.3% 50 Listing Index Feb 14 Aug 14 Feb 15 Aug 15 Feb 16 Aug 16 Feb 17 Aug 17 Feb 18 The CoreLogic Listings Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market. CoreLogic customers account for over 7 of all listings in the Australian property market. The index, which tracks the flow of metadata across CoreLogic s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market. 3
Top two sales over the past week, states and territories Australian Capital Territory 57 Hawkesbury Crescent, Farrer, ACT $1,490,000 One Agency Scott Crossman Mawson 12 Bandjalong Crescent, Aranda, ACT 5 bed, 3 bath, 2 car house $1,260,000 Luton Properties Belconnen New South Wales 37a Cecil Street, Gordon, NSW 4 bed, 3 bath, 2 car house $4,500,000 McConnell Bourn Wahroonga 81 Anglesea Street, Bondi, NSW 6 bed, 2 bath, 1 car house $4,230,000 Ray White Surry Hills/Alexandria Northern Territory 16 Latram Court, Gunn, NT $695,000 Elders Palmerston 67 Thornton Crescent, Moil, NT $585,000 Ray White Bayside Fannie Bay Queensland 2623 Virginia Drive, Hope Island, Qld 4 bed, 5 bath, 5 car house $5,050,000 Hope Island Resort Realty Hope Island 44 King Charles Drive, Paradise Point, Qld 6 bed, 5 bath, 3 car house $2,210,000 Queensland Sotheby s International Realty 4
Top two sales over the past week, states and territories South Australia 18 Watson Avenue, Rose Park, SA $1,680,000 Klemich Real Estate 24 Moore Street, Somerton Park, SA 5 bed, 3 bath, 2 car house $1,600,000 Harris Real Estate Tasmania 7 Fehre Court, Sandy Bay, Tas $940,000 Knight Frank Hobart 3 Hillside Crescent, West Hobart, Tas 4 bed, 1 bath, 3 car house $900,000 Ray White Hobart Victoria 30 Palermo Street, South Yarra, Vic 4 bed, 1 bath, 1 car house $3,030,000 Thomson Real Estate Malvern 20a Wordsworth Street, St Kilda, Vic 4 bed, 5 bath, 3 car house $2,810,000 McGrath St Kilda + Pride Real Estate Western Australia 6 Gadsdon Street, Cottesloe, WA 3 bed, 2 bath, 2 car house $2,300,000 Bellcourt Property South Perth 31 Mengler Avenue, Claremont, WA 2 bed, 1 bath, 1 car house $1,270,000 Abel Property Cottesloe 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