Corelogic Changes in Australian Housing Value data to July 2023 & What Does It Mean

CoreLogic’s national Home Value Index (HVI) rose 0.7% in July marking a fifth consecutive month of housing value recovery.

We all know that making informed decisions in the always-changing real estate market requires knowledgeable and adaptable information. As we go through this article recently published by Corelogic’s news & research campaign, we will analyze significant trends, understand complex market dynamics, and identify feasible solutions.

Beginning with the national housing value index (HVI) which is up to 4.1% since February, following a -9.1% decline from April 2022.

Nationally, home values remain -5.3% below the peak, with only Perth, Adelaide, and Regional South Australia recording new cyclical highs.

Perth, in particular, recorded a substantial pull back in house values across most suburbs from 2014 to December 2021. Now, demand and low supply is pushing these prices back up however some suburbs are still below the 2014 highs.

Suburbs that have strong fundamentals for demand ie good schools, close to train and main arterial roads and close to the CBD did not pull back as much and so now are showing these cyclical highs.

Here is a Corelogic graph showing the movement of prices across the states on a monthly basis up to July, a quarterly, and annual basis. Looking at these graphs gives some indication of what parts of Australia are showing growth or pull back on these time frames…..

This data is what serious investors look at for opportunities and home owners if they are looking to capitalize on growth especially if they are mobile for jobs……

PWC Realty HVI Monthly Change 2023.31.07

PWC Realty HVI Quarterly Change 2023.31.07

PWC Realty HVI Annual Change 2023.31.07 .

However with increasing interest rates, growth has lost some of its momentum, slowing from 1.2% in May.

The slowdown in value growth is mainly due to easing gains in the upper quartile of the market.

The lower quartile and broad middle of the market remained resilient in July, following a smaller but more consistent rate of growth over previous months.

This resilience aligns with housing finance data showing a stronger bounce back in lending to first-home buyers and investors.

Regional values continued to lag behind the capitals, with the combined regionals index rising 0.2% in July compared to a 0.8% increase across the combined capitals index.

The largest rise in regional housing values has been in the Gold Coast, the Southeast region of Tasmania, and the Newcastle/Lake Macquarie region.

PWC Realty HVI Capitals 2023.31.07

PWC Realty HVI Regionals 2023.31.07

PWC Realty HVI National 2023.31.07 .

With the rapid increase in interest rates, mortgage pain and fear is beginning to bite with an increase of listings in most capital cities resulting in an national increase of 3.9% In the last 4 weeks to the end of July 2023.

Many are choosing to take the opportunity of the current low supply and high demand for housing across Australia as a good time to sell – better now than later when there maybe less buyers due to financial constraints.

Overall, the capital city advertised stock levels remain low compared to historical levels, but prices are holding their own, suggesting demand is keeping up with the increased flow of new listings.

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PWC Realty Property Management

At PWC Realty, we are all about Positive Wealth Creation, so your Rental property has significance to us as a valuable asset of yours that is working to serve a Purpose & Dream for you and your secure financial future. With this in mind, we consider ourselves part of your management Team, to look after this asset in the best way possible both in maintenance and in getting the right quality tenants who will look after your property to an acceptable standard. We focus on Results & Solutions not excuses. In our hands, we will know your property inside & out, our Property Condition Reports will be itemised down to the smallest detail as this is the bench mark for Bond recovery. Photos/videos will be taken as evidence & supporting visuals of any issues and the overall presentation of the property at the commencement of the lease & at the end of a lease. Your quarterly inspections will be conducted by the trained personnel in our office. It will not be outsourced to 3rd parties, and should there be any issues including cleanliness we will bring them up to the tenants and re-visit the property to ensure that it has been addressed. We will not allow issues to go unaddressed by either you, the landlord or the tenant.

We are ‘hands on’ managers of your property and your property will be looked after.

On the other hand, we respect all of our tenants and encourage them to meet our expected standards. We appreciate their importance to you the landlord and to our business and treat them accordingly in a fair, polite, considerate & respectful manner. They are not the enemy, but possible referrals of other good tenants for our properties. Like begets Like.

Your rental property is your valuable asset and we consider ourselves an integral part of your management team as hands-on managers.

Asset management yearly review, asset performance and budgeting for maintenance and upgrade.

– Quality property presentation
– Quality tenant management

= Higher rent

Respecting all tenants and encouraging them to meet our standards. We appreciate their importance to you, the landlord, and to our business.

Results and solutions, NOT EXCUSES!

Pictorial evidence along with a detailed property condition report. We focus on attention to detail.

Inspections are carried out by our in-house management, rather than being outsourced to a third party.

We do confirmative follow-up inspections for improvement requests.

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With transparency at the forefront of our values, we will give you a clear understanding of our services and relationship with you, all tailored to your requirements.

If you are thinking of renting your property and the above resonates with you, contact PWC Realty for your obligation- free rental appraisal.

If you are thinking of putting your property up for rent and the foregoing resonates with you, please contact PWC Realty to give us the opportunity to give you a rental appraisal, a clear understanding of our mutual relationship and discuss our services with you which we will tailor to your requirements.

Office: 08-6363 5359 Mobile: 0429 092 110