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Economics

Property Market Update – 6 September 2019

Date: 10/09/2019

Spring is here, and with it the news that the property market is showing signs of recovering in Sydney and Melbourne. I’ve now updated the capital city table based on Core Logics latest housing price index data.

Recall that rather than just looking at dwelling values, I prefer to look to the fine-print of the data to see what’s happening to house prices, given they’re the biggest component of what’s driving property prices.

August 2019


July 2019

Source: CoreLogic Home Price Value Index Tables (www.CoreLogic.com.au)

Note:
Red indicates a negative value, green indicates a positive value and white is neutral.

represents an improvement, and  represents a deterioration from the last month’s results.

Interpretation

There is a little more green, and a little less red this month, revealing that a weak to moderate real estate revival seems to be underway in Sydney, Melbourne, Hobart and Canberra.

A narrative that supports this view is that buyers have been enticed to enter the market buoyed by cheaper interest rates, while sellers are still holding back and waiting for better prices. Hence the lack of stock available for sale is causing buyers to become more aggressive and pushing prices up… for some properties in some suburbs.

Darwin is still in the grips of a severe real estate downturn, while there are still no clear green signs of a market bottom in Perth. Brisbane and Adelaide seem to be losing a little bit of momentum.

Profile photo of Steve McKnight

By Steve McKnight

Steve McKnight, the founder of PropertyInvesting.com, is a respected property investing authority as well as Australia's #1 best-selling business author.

Comments

  1. Mohammad Shohanuzzaman

    Hi Steve, thought I should share my experience and gratitude with you. I have read your book, among many other books and online materials. You have real practical concept that I didn’t find in other books to be honest. Only you recommended to go for positive cash flow properties, everybody else negative gearing which didn’t make sense to me if your really want multiple properties and a beginner. Finally when I wanted to apply all the theories and buy my first home I found all the good investment grade proprietors are first, very scarce and second, bought by investors before novice like me get a chance. I inspected nearly 70/80 properties, and finally made the deal that was below market rate around 12%, so I made profit when purchased, needed cosmetic renovation and ready to subdivide keeping existing deweling. If I rent it, it will be a positive cash flow property. Thank you for teaching all these. Success Comes by doing things differently!

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