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Property Market Update – 08 August 2016

9 August 2016 |  by  |  Weekly Market Updates

Property Prices

Australia’s two largest cities continue their upward march, with property prices increasing around 1% over the last month and 3% over the last quarter.

Trends by city

Percentage by city

RP Data. Understand the limitations to the quality and timeliness of Australian real estate data.

 

Auction Clearance Rates

Auction clearance rates also remain very strong, particularly in Sydney.

Market Commentator Insight

  • ONWARD AND UPWARDS FOR PROPERTY LISTINGS IN MOST CAPITAL CITIES (02 August 2016, Louis Christopher, Property Update). Click here to read more.

Takeout:  The number of Australian residential property sale listings increased in most capital cities during the month of July 2016, excluding Hobart, where sale listings fell slightly.

  • THE HIGHEST OF HIGHS AND LOWEST OF LOWS IN JULY (02 August 2016, Louis Christopher, Property Update). Click here to read more.

Takeout:   The CoreLogic July Home Value Index results reported a 0.8 per cent rise over the month, taking capital city dwelling values 6.3 per cent higher over the first seven months of the year.

  • RBA statement notes housing market risks have diminished: Westpac’s Bill Evans (07 August 2016, Bill Evans, Property Observer). Click here to read more.

Takeout: In its Statement on Monetary Policy (SoMP) for August the Reserve Bank has made no significant changes to its forecasts.

  • Property 101: Residential approvals in NSW regions with mining subsidence (08 August 2016, Staff Reporter,  Property Observer) Click here to read more.

Takeout: With healthy levels of activity in the residential construction sector the proposed changes to mine subsidence districts by the Mine Subsidence Board (MSB) are well-timed, reported the Housing Industry Association.

  • Realestate.com.au revenue up 20 percent despite fewer local listings (09 August 2016, Staff Reporter,  Property Observer). Click here to read more.

Takeout: REA Group had another record year for revenues and profitability, as it plays a key role in News Corp’s establishment of the world’s leading digital property business.

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