Monthly

Housing
Chart Pack
Unlocking smarter
property decisions

November 2024
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Residential Real Estate Underpins
Australia’s Wealth

# $
RESIDENTIAL REAL ESTATE

$11.1 Trillion NUMBER OF DWELLINGS OUTSTANDING MORTGAGE DEBT

11.2 Million $2.3 Trillion

%
AUSTRALIAN SUPERANNUATION

$3.9 Trillion HOUSEHOLD WEALTH

HELD IN HOUSING

AUSTRALIAN LISTED STOCKS 56.3%

$3.2 Trillion

COMMERCIAL REAL ESTATE

$1.2 Trillion

Source: CoreLogic, RBA, APRA, ASX

TOTAL SALES P.A.

522,401 $489.4 Billion

$
GROSS VALUE OF SALES P.A.

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OVERVIEW

Australian dwelling values

3 MONTHS 12 MONTHS CAPITAL CITIES

0.9% 6.0% 0.8%

The quarterly change in The annual pace of growth On a quarterly basis, capital
national home values held slowed for the eighth city dwelling values (0.8%) are
at 0.9% over the three consecutive month, with rising slower than regional
months to October, in line values up 6.0% over the values (1.1%). However, the pace
with the revised Q3 change year to October. This is the of growth has eased in both
(0.9%) but less than half the lowest annual rise since the markets after peaking at 2.2%
recent peak recorded in 12 months to October 2023 and 2.3%, respectively, over the
April (2.2%). (6.0%). three months to April.

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AUSTRALIAN DWELLING VALUES

3 month changes
Change in dwelling values, three months to October 2024 Rolling quarterly change in dwelling values

Combined Capitals Combined Regionals

Australia 0.9%
AUSTRALIA Combined regionals 1.1% 10%

0.9%
Combined capitals 0.8%
8%
Regional NT -3.9%
Regional TAS 0.5% 6%
Regional WA 4.3%
Regional SA 3.0%
4%
COMBINED Regional QLD 2.3%
REGIONALS Regional Vic -1.2%
2%

1.1%
Regional NSW 0.3% 1.1%
0.8%
Canberra
0%
-0.9%
Darwin -1.3%
Hobart -0.1% -2%
Perth 4.1%
COMBINED
Adelaide 3.7% -4%
CAPITALS
Brisbane 2.4%

0.8% Melbourne
Sydney
-0.8%
0.1%
-6%
Oct 14 Oct 16 Oct 18 Oct 20 Oct 22 Oct 24

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AUSTRALIAN DWELLING VALUES

12 month changes
Change in dwelling values, twelve months to October 2024 Rolling annual change in dwelling values

Combined Capitals Combined Regionals

Australia 6.0%
AUSTRALIA Combined regionals 40%
6.3%

6.0%
Combined capitals 5.9%

Regional NT -5.7%
30%
Regional TAS 1.7%
Regional WA 18.1%
Regional SA 11.3%
COMBINED Regional QLD 11.4% 20%
REGIONALS Regional Vic -2.1%

6.3%
Regional NSW 3.2%

10%
Canberra 0.4%
6.3%
Darwin -0.1%
5.9%
Hobart -1.2%
Perth 22.6% 0%
COMBINED
Adelaide 15.0%
CAPITALS

5.9%
Brisbane 13.0%
Melbourne -1.9%
-10%
Sydney 3.7%
Oct 14 Oct 16 Oct 18 Oct 20 Oct 22 Oct 24

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AUSTRALIAN DWELLING VALUES

Capital cities

Rolling quarterly change in values, dwellings Rolling quarterly change in values, dwellings

10%
12%
10% 8%

8% 6%
6%
4% 4.1%
4% 3.7%
2% 2.4% 2%

0% 0.1% 0% -0.1%
-0.8%
-2% -0.9%
-2% -1.3%
-4%
-6% -4%

-8% -6%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24 Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24

Sydney Melbourne Brisbane Adelaide Perth Hobart Darwin ACT

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AUSTRALIAN DWELLING VALUES

Capital cities
Quarterly change in stratified hedonic dwellings index (3 months to October)

5.5% 5.5%

4.3%
3.9% 3.8%
3.3%
2.8%
2.3%
1.8%
1.2% 1.1% 0.8%
0.3%

-0.3% -0.3%
-0.7% -0.9% -0.6%
-0.9% -1.2% -1.1% -0.9% Lowest 25%
-1.4% of values
-2.1%
Middle 50%
of values

Highest 25%
of values
25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th

SYD MELB BRIS ADL PER HOB DAR ACT

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Housing
cycles
Capital cities

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HOUSING CYCLES

Rolling 28-day growth rate in

CoreLogic Daily Home Value index
Combined capital cities, rolling 28-day change

The rolling 28-day change in the 0.9%

combined capital citis home value index
0.8%
generally trended lower through October
0.7%
to a 0.16% low over the 28 days to
October 30th. 0.6%

0.5%

0.4%
Capital growth has increased slightly
0.3%
since the start of the month, with values
0.23%
up 0.23% over the 28 days to November 0.2%

6th. 0.1%

0.0%

Jan 2024

Mar 2024

Aug 2024

Sep 2024
Apr 2024

Jul 2024
May 2024

Jun 2024

Oct 2024
Nov 2023

Feb 2024

Nov 2024
Dec 2023
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HOUSING CYCLES

Sydney

35%
In October, Sydney dwelling values
declined -0.1% 30%

25%

20%

0.1%
Over the quarter dwelling values 15%
increased by 10%

5%

0%

3.7%
Over the past year dwelling values
-5%
increased by
-10%

-15%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Sydney dwelling values are now -0.1% below the
record high, which was in September 2024.
Quarterly Change Annual Change

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 HOUSING CYCLES

Melbourne
20%

-0.2%
In October, Melbourne dwelling
values declined 15%

10%

Over the quarter dwelling values

decreased by -0.8% 5%

0%

Over the past year dwelling values

decreased by -1.9% -5%

-10%
Melbourne dwelling values are now -5.1% below the Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
record high, which was in March 2022.
Quarterly Change Annual Change

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HOUSING CYCLES

Brisbane

35%

In October, Brisbane dwelling

values rose by 0.7% 30%

25%

20%

Over the quarter dwelling values

increased by 2.4% 15%

10%

5%

13.0%
Over the past year dwelling values
0%
increased by
-5%

-10%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Brisbane dwelling values are currently at a record
high. Quarterly Change Annual Change

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HOUSING CYCLES

Adelaide
30%
In October, Adelaide dwelling
values rose by 1.1% 25%

20%

Over the quarter dwelling values

increased by 3.7% 15%

10%

5%

15.0%
Over the past year dwelling values
increased by 0%

-5%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Adelaide dwelling values are currently at a record
high.
Quarterly Change Annual Change

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HOUSING CYCLES

Perth
30%
In October, Perth dwelling values
rose by 1.4% 25%

20%

Over the quarter dwelling values

increased by 4.1% 15%

10%

5%
Over the past year dwelling values
increased by 22.6% 0%

-5%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Perth dwelling values are currently at a record high.
Quarterly Change Annual Change

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HOUSING CYCLES

Hobart
35%
In October, Hobart dwelling values
rose by 0.8% 30%

25%

20%

-0.1%
Over the quarter dwelling values 15%

decreased by 10%

5%

0%

-1.2%
Over the past year dwelling values
-5%
decreased by
-10%

-15%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Hobart dwelling values are now -11.9% below the
record high, which was in March 2022
Quarterly Change Annual Change

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HOUSING CYCLES

Darwin

25%
In October, Darwin dwelling values
declined -1.0% 20%

15%

Over the quarter dwelling values

decreased by -1.3% 10%

5%

0%
Over the past year dwelling values
decreased by -0.1% -5%

-10%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Darwin dwelling values are now -7.5% below the
record high, which was in May 2014.
Quarterly Change Annual Change

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HOUSING CYCLES

Canberra

30%
In October, Canberra dwelling
values declined -0.3% 25%

20%

15%
Over the quarter dwelling values
decreased by -0.9% 10%

5%

Over the past year dwelling values

0.4%
0%

increased by
-5%

-10%
Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Canberra dwelling values are now -6.5% below the
record high, which was in May 2022. Annual Change
Quarterly Change

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Sales and
listings

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NATIONAL SALES

CoreLogic estimates there were 43,232 sales nationally in October, taking the annual count to 522,401. Over the quarter,
sales activity was estimated to be 0.6% above the average for this time of year, with capital city activity up 4.6% while
sales in the regions were -5.9% below average.

Change in sales volumes, twelve months to October 2024 Monthly sales with six month moving average, National

National 9.2% Monthly sales volume 6 month moving average

AUSTRALIA Combined regionals 8.9%
Combined capitals 9.4%

9.2% Regional NT 2.9%

60,000

Regional TAS 8.9%

Regional WA 25.0%
Regional SA 13.9% 50,000
5 year average
COMBINED Regional QLD 3.8%
REGIONALS Regional Vic 7.3%

8.9%
Regional NSW 11.5%
40,000

Canberra 5.5%
Darwin 15.1%
Hobart 5.7% 30,000
COMBINED Perth 7.0%
CAPITALS Adelaide 17.4%

9.4%
Brisbane 6.1%
Melbourne 12.5% 20,000
Sydney 8.4% Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24

Note: recent months of sales volumes are modelled estimates, and are subject to revision

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MEDIAN DAYS ON MARKET
Selling times continued to tick higher over the three months to October, with the national median time on the market
coming in at 33 days, up from 27 days this time last year. With the exception of Adelaide (26 days) and Darwin (54 days),
most capitals are now recording longer days on market compared to this time last year, with rising advertised stock levels
providing more choice and less urgency for buyers.
Median days on market – three months to October 2024 Median days on market

75

AUSTRALIA National 33
27
Combined regionals 42

33 27
36 65
Combined capitals 28
24

Regional NT 81
81.5 55
Regional TAS 59
38
Regional WA 24
27
COMBINED Regional SA 44
48 45
REGIONALS Regional QLD 26
31 42
Regional Vic 63

42 36
44
Regional NSW 49
47 35

Canberra 43
40 28
Darwin 54
60 25
Hobart 48
27
COMBINED Perth 12
10
CAPITALS Adelaide 26
30 Oct-24 15
Brisbane 22

28 24
19
Melbourne 41 Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
27 Oct-23
Sydney 32 Combined regionals Combined capitals
28

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VENDOR DISCOUNT

At the median level, vendors are now offering slightly lower discounts on their properties compared to last year. The
median vendor discount nationally was -3.6% in the three months to October, down slightly from the -3.7% median
discount seen at the same time last year.

Median vendor discount – three months to October 2024 Median vendor discount

AUSTRALIA Oct-24 -3.6% National

-3.7% -2%

-3.6%
-3.8% Combined regionals
Oct-23 -4.0%
-3.3% Combined capitals
-3.3%

-3.7% -4.7%
-4.3%
-4.0%
Regional NT
Regional TAS
-3%
-4.2%
-2.8% Regional WA -3.3%
-3.7%
COMBINED -3.6% Regional SA
-4.3%
REGIONALS -3.4% Regional QLD -3.8%
-3.7% -4%
-3.8% -4.5%
-4.3%
-3.8%
-4.1%
Regional Vic
Regional NSW

-4.0% -4.3%
-3.1%
-3.3% Canberra -5%
-5.0% Darwin
-4.2% Hobart
COMBINED -4.5%
-2.5% Perth
CAPITALS -2.9%
-3.3% Adelaide
-3.3%
-3.4% -6%
-2.9% Brisbane
-3.1% Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
-3.6% Melbourne
-3.5%

-3.3% -3.3%
-3.4% Sydney
Combined regionals Combined capitals

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LISTINGS

The spring selling season has continued to ramp up, with 45,155 newly advertised listings counted over the four weeks
to November 3rd. This is 1.3% higher than the flow of new listings seen this time last year and is 0.8% above the the
historic five-year average.

Number of new listings, National Dwellings

New listings over

the 4 weeks ending
50,000
November 3
45,000

45,155 40,000
35,000
Compared to 30,000
same time last
year 25,000

1.3%
20,000
15,000
10,000
Compared to
5-year average 5,000
0

0.8% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2022 2023 2024 Previous 5yr average

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LISTINGS
At the national level, there were 155,875 total listings observed over the four weeks to November 3rd, 2024. Total listings
levels have continued to trend higher over spring, as the above-average flow of new listings amid weakening demand
sees stock accumulate. However, despite the uplift, total listings nationally remain -9.3% below the historical average for
this time of year.
Number of total listings, National Dwellings

Total listings over

the 4 weeks ending 200,000
November 3
180,000

155,875 160,000
140,000
120,000
Compared to
same time last 100,000
year
80,000

0.1% 60,000
40,000
20,000
Compared to
5-year average 0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

-9.3% 2022 2023 2024 Previous 5yr average

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LISTINGS
While total listing levels at the national level are relatively in line with those seen 12 months ago, across the capitals,
inventory levels are more diverse. Compared to last year, total listings over the four weeks to November 3rd were down -
25.9% in Darwin, followed by Hobart, down -11.5%. In contrast, advertised supply in Sydney (7.1%), Melbourne (4.2%), and
Brisbane (4.9%) was higher than this time last year.
New listings, change from equivalent period last year Total listings, change from equivalent period last year

AUSTRALIA 5.2% Sydney AUSTRALIA 7.1% Sydney

-5.3% Melbourne 4.2% Melbourne

1.3% -1.3% Brisbane 0.1% 4.9% Brisbane

3.2% Adelaide -7.4% Adelaide

9.5% Perth -7.4% Perth

-12.1% Hobart -11.5% Hobart

COMBINED 11.2% Darwin COMBINED -25.9% Darwin

REGIONALS -5.8% Canberra REGIONALS -7.7% Canberra

2.3% 4.4% Rest of NSW -2.4% 1.4% Rest of NSW

-0.3% Rest of Vic 7.6% Rest of Vic
1.4% Rest of Qld. -7.5% Rest of Qld.
-6.6% Rest of SA -16.0% Rest of SA
COMBINED COMBINED
CAPITALS 6.1% Rest of WA CAPITALS -19.9% Rest of WA
Rest of Tas
0.8% 2.0%
7.2% -3.1% Rest of Tas
18.3% Rest of NT -8.5% Rest of NT

Data is for the four weeks ending 3 November

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WEEKLY CLEARANCE RATES
Auction activity continued to ramp up over October, with the weekly auction count exceeding the 3,000 mark for the second
time this year over the week ending 27th October (3,135). The rise in auction numbers was accompanied by a continued
easing in the capital city clearance rate, with the final rate averaging 59.5% over the four weeks to October 27th, down from
61.8% over the four weeks to September 29th.
Weekly clearance rates, combined capital cities

Number of auctions (RHS) Auction clearance rate (LHS) Auction clearance rate, 4 week average (LHS)

90% 6,000

80%
5,000
70%

Auction volumes
60% 4,000
Clearance Rate

50%
3,000
40%

30% 2,000

20%
1,000
10%

0% 0
Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24

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Rental market

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RENTAL RATES

Rental growth continued to slow nationally, with rents up 5.8% over the 12 months to October – the slowest annual
change since the 12 months to April 2021. Over the quarter, capital city rents were flat (0.0%), while regional rental values
rose 0.5% over the three months to October.

Annual change in rental rates to October 2024 Annual change in rental rates - National

National 5.8%
AUSTRALIA Combined regionals 6.4%
11%

5.8%
Combined capitals 5.6%
10%
Regional NT -2.4%
9%
Regional TAS 4.2%
Regional WA 10.5% 8%
Regional SA 6.1% 7%
COMBINED Regional QLD 6.3%
REGIONALS Regional Vic 6%
5.4% 5.8%

6.4%
Regional NSW 6.2% 5%

Canberra
4%
2.6%
Darwin 2.3% 3%
Hobart 5.4%
2%
COMBINED Perth 9.6%
CAPITALS Adelaide 7.2% 1%

5.6%
Brisbane 4.1% 0%
Melbourne 5.6% Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Sydney 4.6%

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RENTAL YIELDS
In October, national gross rent yields remained steady for the 23rd consecutive month at 3.7%. However, the easing in
rent growth amid multi-speed value growth conditions has resulted in a change of guard. For the first time on record,
Brisbane and Adelaide recorded a lower yield than Melbourne, with Melbourne’s yield rising to 3.68%, while yields in
Brisbane and Adelaide fell to 3.65%.
Gross rental yields, October 2024 Gross rental yields

National 3.7%
AUSTRALIA Combined regionals 4.4%
Combined capitals 3.5% 4.5%

3.7% Regional NT
Regional TAS
7.6%
4.0%
4.4%
Regional WA 5.9%
Regional SA 4.7% 3.67%
COMBINED Regional QLD 4.4% 3.5%
REGIONALS Regional Vic 4.3%

4.4%
Regional NSW 4.1%
3.0%
Canberra 4.0%
Darwin 6.8%
Hobart 4.3% 2.5%
COMBINED Perth 4.2%
CAPITALS Adelaide 3.7%

3.5%
Brisbane 3.7% 2.0%
Melbourne 3.7% Oct 18 Oct 19 Oct 20 Oct 21 Oct 22 Oct 23 Oct 24
Sydney 3.0%

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Dwelling approvals
& housing credit

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DWELLING APPROVALS

National house approvals continued to trend higher in September, up 2.4% over the month and 5.9% over the quarter.
With 9,891 houses approved in September, the monthly national trend exceeded the decade average for the first time
since August 2022. By contrast, unit approvals rose 8.4% over the months but remained -31.1% below the previous decade
average.
Monthly house v unit approvals, National

16,000

14,000
Decade
average,
12,000
houses

10,000

8,000

6,000

Decade
4,000
average, units

2,000
Sep 94 Sep 97 Sep 00 Sep 03 Sep 06 Sep 09 Sep 12 Sep 15 Sep 18 Sep 21 Sep 24

Houses Units

Source: ABS

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FINANCE & LENDING

After rising for seven consecutive months, the value of new home lending fell -0.3% in September to $30.2 billion. Both
investor (-1.0%) and first home buyer (-3.3%) financing declined over the month, while owner-occupier lending rose by
just 0.1%.
Monthly value of new finance commitments, total ($ millions) Portion of new lending for investment housing (excluding refinance)

$27,500 50%

45%
$22,500

$18,639 40%
38.3%
$17,500

35%
33.8%
$12,500 $11,571
30%

$7,500
25%

Owner occupiers
$2,500 Investors 20%
Sep 08 Sep 10 Sep 12 Sep 14 Sep 16 Sep 18 Sep 20 Sep 22 Sep 24 Sep 08 Sep 10 Sep 12 Sep 14 Sep 16 Sep 18 Sep 20 Sep 22 Sep 24

Source: ABS

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INVESTORS & LENDING

Investors’ loan commitments comprised 38.3% of new loans secured in September, down slightly from the recent peak
recorded in July when 38.7% of new financing was for investors. Across the states, NSW (44.0%) continued to record the
highest portion of investor financing, followed by SA (41.1%) and QLD (40.0%). Investors as a % of housing finance
Investors as a portion of total lending (based on value, excluding refinancing) commitments by state September 2024

65% NSW 55% VIC QLD

55%
ACT 30.9%
55% 45% 45%
45% 40.0%
44.0% 35% 35% NT 32.1%
35% 31.7%
25% 25%
25% Tas 27.5%
15% 15% 15%

Sep 18
Sep 14

Sep 16

Sep 20

Sep 22

Sep 24
Sep 20
Sep 14

Sep 18

Sep 24
Sep 16

Sep 22
Sep 14

Sep 16

Sep 20

Sep 22

Sep 24
Sep 18

WA 37.1%

SA 41.1%
SA WA 55% TAS
55% 60% Qld 40.0%
45% 45%
41.1% 40% 37.1%
35% 35% Vic 31.7%

25% 20% 27.5%

25%
NSW 44.0%
15% 15%
0%
Sep 16
Sep 14

Sep 18

Sep 20

Sep 22

Sep 24

Sep 14

Sep 16

Sep 20

Sep 22
Sep 18

Sep 24
Aust 38.3%
Sep 18

Sep 24
Sep 14

Sep 16

Sep 20

Sep 22

Source: ABS

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FIRST HOME BUYERS

The value of first home buyer finance fell -3.3% in September to $5.2 billion. First-home buyers comprised 28.0% of the
value of owner-occupied lending, down from a recent peak of 30.0% in April but well above the historic decade average
of 24.9%.

First home buyers as a % of owner occupier housing finance commitments by state First home buyers as a % of owner occupier housing finance

commitments September 2024

45% ACT 32.2%

40% NT 29.3%

Tas 29.0%
35%

WA 28.6%
30%
SA 29.3%
25%
Qld 25.2%

20% Vic 33.1%

15% NSW 25.5%

Sep 19 Sep 20 Sep 21 Sep 22 Sep 23 Sep 24
Aust 28.0%
NSW Vic Qld SA WA

Source: ABS

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MORTGAGE RATES

The RBA held the cash RBA Cash Rate

rate steady in November 8%

7.25%

Inflation outlook 7%

• The RBA’s decision to keep the cash rate on hold at

the November Melbourne Cup Day meeting was 6%
widely expected by punters. The board reiterated,
that despite the improving inflation outlook, the
final straight in the inflation race would be a trot, 5% 4.75%
not a gallop.
4.35%
• The Q3 CPI results saw annual headline inflation, at 4%
2.8%, fall within the RBA’s target range for the first
time since Q1 2024. However, this decline was
partially mechanical, with the recent temporary 3%
cost of living relief, namely energy rebates, pushing 3.00% 2.50%
utility inflation. Trimmed mean inflation, at 3.5%,
remains stubbornly above target. 2%
1.50%
• Although moving in the right direction, the
November SMP forecasts suggest it will be some 1%
time yet before underlying inflation is sustainably
within the target range, with most now placing bets 0.25% 0.10%
for a first rate cut in early 2025. 0%
Nov 06 Nov 08 Nov 10 Nov 12 Nov 14 Nov 16 Nov 18 Nov 20 Nov 22 Nov 24

34 © 2024 RP Data Pty Ltd t/as CoreLogic Asia Pacific. Proprietary and confidential
HOUSING CREDIT

New variable rates for owner-occupiers and investors remained relatively steady through August, hovering at 6.27% and
6.50%, respectively. New variable and fixed owner occupier rates have continued to converge with just a 24 basis point
gap between long-term and variable rates and a 20 basis point spread between variable and short-term rates.

Average borrowing costs by borrower and loan type

Owner occupiers Investors

8.0% 8.0%

7.0% 7.0%
Variable rate Variable rate
Fixed rate, less than or equal to 3yrs Fixed rate, less than or equal to 3yrs
6.0% 6.0%
Fixed rate, greater than 3yrs Fixed rate, greater than 3yrs

5.0% 5.0%

4.0% 4.0%

3.0% 3.0%

2.0% 2.0%

1.0% 1.0%

May 23

May 24
Nov 20
May 20

May 22
May 21
Nov 19

Feb 21

Nov 21
Feb 20

Feb 22

Nov 22
Feb 23

Nov 23
Feb 24
Aug 19

Aug 21
Aug 20

Aug 22

Aug 23

Aug 24
Nov 22
Nov 19

May 21
May 20

May 22

May 23

May 24
Nov 23
Feb 20

Nov 20
Feb 21

Nov 21
Feb 22

Feb 23

Feb 24
Aug 19

Aug 21
Aug 20

Aug 22

Aug 23

Aug 24

Source: RBA

35 © 2024 RP Data Pty Ltd t/as CoreLogic Asia Pacific. Proprietary and confidential
HOUSING CREDIT

Mortgage originations for ‘riskier’ types of lending remain historically low, but there are some signs lending policies might
be relaxing a little with the share of interest only and high LVR loans rising over the past nine months.

Interest-only lending has increased, comprising 20.3% of new loans secured in the June quarter. The recent uptick is likely
due to increased investor participation but is also potentially a sign of stretched affordability. The portion of owner-
occupier loans with a high LVR has also shifted higher from recent lows (9.2%), with APRA noting a growing take-up of
Commonwealth Government’s First Home Guarantee schemes, which covers up to 15% of the property value.
% of loans originated with a loan to % of loans originated with a debt to % of loans originated with an LVR
% of loans on interest only terms income ratio >=6x income ratio >=6x >=90%

14.1%
13.1%

12.7%
12.5%
11.0%

24.3%

12.0%
12.0%
20.4%

23.3%
23.1%

11.7%
20.3%

11.6%
10.3%

10.3%
10.1%

22.2%
10.0%

21.9%

10.8%

10.2%
19.9%

19.8%

18.9%

9.6%

9.5%

9.2%
19.4%

9.1%
9.1%
17.3%
19.3%

17.1%
8.2%
19.3%

16.4%
16.3%
16.3%

8.4%
16.0%
19.1%

19.0%

8.0%
19.0%
19.0%

15.1%
14.8%

7.7%
14.6%
7.1%
18.8%

7.0%

7.3%
6.6%
18.5%

18.5%

6.1%
6.1%

6.0%
18.3%

6.1%
18.2%

18.2%

5.7%

11.0%

5.23%
5.6%
18.2%

5.07%
18.0%

4.59%
4.49%

4.48%
4.52%
17.9%

4.9%
4.8%

3.93%
4.5%
17.5%

3.38%

3.22%
7.5%

2.99%

2.98%
3.21%
2.87%
2.77%

2.81%
2.52%

2.44%
3.2%

2.39%
3.2%

6.1%
3.2%

2.30%
2.32%
2.32%
5.7%
5.6%
2.9%

5.2%
2.8%

2.8%

5.0%

Jun 2020

Dec 2023
Jun 2022
Jun 2021

Jun 2024
Jun 2019

Dec 2021

Dec 2022

Jun 2023
Dec 2019

Dec 2020
Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024
Sep 2019

Sep 2020

Sep 2021

Sep 2022

Sep 2023
Jun 2020
Jun 2019
Oct 2019

Oct 2020

Jun 2021
Oct 2021

Jun 2022
Oct 2022

Jun 2023
Oct 2023

Jun 2024
Feb 2020

Feb 2021

Feb 2022

Feb 2023

Feb 2024

Jul 2019
Nov 2019

Nov 2021
Jul 2020
Nov 2020

Jul 2021

Jul 2022
Nov 2022

Jul 2023
Nov 2023
Mar 2022
Mar 2019

Mar 2020

Mar 2021

Mar 2023

Mar 2024

Owner occupiers
Investors
Source: APRA

36 © 2024 RP Data Pty Ltd t/as CoreLogic Asia Pacific. Proprietary and confidential
CHART OF THE MONTH

Rental growth is easing, but vacancy rates remain

tight
Despite rental values rising just 0.2% in October, the national vacancy rate came in at 1.8%, -1.5 percentage points below
the pre-covid five-year average. While still low, this is an improvement from this time last year, when just 1.4% of rentals
were vacant nationally.

Vacancy rate v pre-COVID 5yr average

7.0%
8.0%

5.9%
5.8%
7.0%

5.4%
6.0%

4.3%
4.2%

3.8%
3.8%
5.0%

3.7%
3.4%

3.3%
3.1%
3.1%

4.0%

2.5%
2.0%

2.1%
1.9%
1.9%

3.0%

2.0%

1.0%

2.0%

2.0%

2.0%
2.4%
2.2%

2.7%

1.6%
1.9%

1.9%

1.8%
1.5%

1.8%

1.8%

1.8%
1.3%
2.1%

1.2%
1.1%

0.0%

Regional SA
Sydney

Hobart

Combined

Combined
Darwin

Canberra
Adelaide

Perth

Regional Qld
Melbourne

Regional NSW

Regional Vic
Brisbane

Regional WA

Regional NT
Regional Tas

National
regional
capitals
Oct 24 Pre-pandemic 5yr average

Source: CoreLogic
37 © 2024 RP Data Pty Ltd t/as CoreLogic Asia Pacific. Proprietary and confidential
Guide to CoreLogic data in the Monthly Housing Chart Pack For access to the data, contact us.

Page Chart / insight Data description

Total sales per annum, gross value of sales Total value of sales is the national, monthly modelled sales volume. Gross value of sales is the total value of sales in a 12 month period, lagged by three months to
2
per annum. account for delays in sales information.
Snapshot of national quarterly and annual
3 Based on changes to the national CoreLogic Home Value Index.
change in dwelling values
4 Rolling quarterly change in dwelling values Rolling three-month change in CoreLogic Home Value Index, combined capitals and combined regional market.
4 Change in dwelling values, three months Snapshot of three-month change in CoreLogic Home Value Index, Australia wide, combined capital cities, combined regional market and the 15 GCCSA markets.
5 Rolling annual change in dwelling values Rolling 12-month change in CoreLogic Home Value Index, combined capitals and combined regional market.
5 Change in dwelling values, 12 months Snapshot of 12-month change in CoreLogic Home Value Index, Australia wide, combined capital cities, combined regional market and the 15 GCCSA markets.
6 Rolling quarterly change in dwelling values Rolling three-month change in CoreLogic Home Value Index for the eight capital city GCCSA markets.
Quarterly change in stratified hedonic Snapshot of three-month change in CoreLogic Stratified Home Value Index, for the eight capital city GCCSA markets. The stratum measured are the lowest 25%,
7
dwellings index middle 50% and top 25% of homes across each market.
Rolling 28-day growth rate in CoreLogic Daily
9 Based on the CoreLogic Daily Home Value Index for the combined capital cities market.
Home Value index
Columns are the rolling three-month change in the CoreLogic Home Value Index for each greater capital city market. Line on the chart is the rolling 12-month
10 to 17 Charts of housing cycles
change in the CoreLogic Home Value Index for each greater capital city market.
19 Change in sales volumes, twelve months Snapshot of the change in CoreLogic modelled sales volumes, measuring sales estimates in the past 12 months against the previous 12 month period.
Monthly sales with six month moving average,
19 The monthly change in sales volumes nationally, overlayed with a six-month moving average of the monthly growth rate.
National
A snapshot of the median time period that a dwelling goes from the initial listing date to the sale date. The median days on market observation is taken over a
20 Median days on market – bar chart
three-month period for each region. Chart displays the latest three-month period, as well as the same three month period in the previous year.
20 Median days on market – line chart A rolling three-month view of the median days on market observation across the combined capital city market and combined regional market.
A snapshot of the median discount from an initial listing price to the sale price. The median vendor discount observation is taken over a three-month period for
21 Median vendor discount – bar chart
each region. Chart displays the latest three-month period, as well as the same three month period in the previous year.
21 Median vendor discount – line chart A rolling three-month view of the median vendor discount observation across the combined capital city market and combined regional market.
A rolling count of properties newly added to the market for sale over the past four weeks. Chart overlays the rolling count for the current year, the previous year, and
22 Number of new listings, national dwellings
the previous five-year average. New listings exclude recently re-listed properties.
A rolling count of all properties on the market for sale over the past four weeks. Chart overlays the rolling count for the current year, the previous year, and the
23 Number of total listings, national dwellings
previous five-year average.
New and total listings, change from equivalent
24 The change in new and total listings in the latest four-week reporting period, compared with the equivalent period 12 months prior.
period last year
Weekly clearance rates, combined capital The weighted capital city CoreLogic weekly clearance rate, overlayed with a rolling, four-week average clearance rate. Columns represent weekly number of
25
cities auctions.
27 Annual change in rental rates - bar chart Snapshot of 12-month change in CoreLogic Hedonic Rent Value Index for Australia, combined capital cities, combined regional market and the 15 GCCSA markets.
27 Annual change in rental rates - line chart Rolling 12-month change in CoreLogic rent value index, national.
A snapshot of the latest monthly gross rent yields for Australia, combined capital cities, combined regional market and the 15 GCCSA markets. Gross rent yields are
28 Gross rental yields - bar chart
the current estimate of annualised rent income against the value of dwellings.
28 Gross rental yields - line chart Rolling monthly gross rent yields, Australia wide. Gross rent yields are the current estimate of annualised rent income against the value of dwellings.
37 Vacancy rates vs pre-COVID 5yr average A look at current vacancy rates compared to their pre-covid 5yr average.

38 © 2024 RP Data Pty Ltd t/as CoreLogic Asia Pacific. Proprietary and confidential
Disclaimers
In compiling this publication, RP Data Pty Ltd trading as CoreLogic Asia Pacific (ABN 67 087 759 171) (“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 Western Australian Data

Based on or contains data provided by the State of Queensland (Department of Resources) Based on information provided by and with the permission of the Western Australian Land
2024. In consideration of the State permitting use of this data you acknowledge and agree Information Authority (2024) trading as Landgate.
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,
Australian Capital Territory Data
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 The Territory Data is the property of the Australian Capital Territory. No part of it may in any
breach of the privacy laws. 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
South Australian Data
Land Authority GPO Box 1908 Canberra ACT 2601.
© 2024 Copyright in this information belongs to the South Australian Government and the
South Australian Government does not accept any responsibility for the accuracy or Tasmanian Data
completeness of the information or its suitability for purpose.
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.
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The Crown in Right of Tasmania and its employees and agents:
Contains property sales information provided under licence from the Land and Property
a) give no warranty regarding the data's accuracy, completeness, currency or suitability for
Information (“LPI”). CoreLogic is authorised as a Property Sales Information provider by the LPI.
any particular purpose; and

Victorian Data 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.
The State of Victoria owns the copyright in the property sales data and reproduction of that
data in any way without the consent of the State of Victoria will constitute a breach of the Base data from the LIST © State of Tasmania http://www.thelist.tas.gov.au
Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or
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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.

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