RP Data – Rismark Home Value Index Release
Dwelling values across capital cities recorded a second month of capital gains in July with dwelling values up by 0.6% over the month following a 1.0% rise in June. The RP Data-Rismark Home Value indices posted a second successive rise in capital city dwelling values over the month of July. Across the combined capital cities, dwelling values rose by 0.6 per cent over the month with the rises being relatively consistently over the first three weeks of July followed by a -0.2 per cent fall over the final week of the month.Read more »
Industry Market Wrap
Dwelling approvals data for June 2012 was released early this week by the Australian Bureau of Statistics (ABS). Dwelling approvals fell by -2.5% over the month with private sector house approvals falling by -1.1% and private sector unit approvals falling by -4.5%. Dwelling approvals were 10.2% higher over the twelve months to June, with the increase fuelled by a 49.5% increase in the more volatile ‘private sector unit’ approvals which was somewhat offset by a -7.7% fall in private sector house approvals. Read more »
Industry Market Wrap
The positive data flows continued over the week with the ABS recording a 1.3% lift in owner occupier housing loans which included a solid 4.3% rise in first time buyer commitments. The value of new housing finance commitments for investment purposes was up 4,9% in June, reversing the May fall 4.5%. We will have to wait and see how much of this improvement can be attributed to State Government policies targeting stamp duty concessions and bonuses for first home buyers which expired at the end of June in NSW and Vic. Read more »
National Auction Clearance Rates
Auction clearance rates across the combined capital cities fell to 49.0% last week from 49.9% the previous week. Auction volumes increased over the week with 1,172 auctions compared to 945 auctions over the previous week. In Melbourne, auction clearance rates increased over the week to 53.9% from 51.3% over the previous week. The volume of properties taken to auction increased from 431 auctions the previous week to 541 auctions last week. In Sydney, auction clearance rates fell from 54.2% the previous week to 50.5% last week.