Trust you survived last Friday 13th ok (I didn’t mention it so I wouldn’t jinx anyone!) as we come towards the end of the third quarter of 2019!
Some good news out from Core Logic, where you can see the trend yourself:
a good, strong uptick in auction clearance rates!
Logically . . . this is followed by house price increases!
The latest ABS data points to further signs of a recovery in the residential property market.
The ABS data follows on from research released by CoreLogic earlier this month, which revealed that national home values increased by 0.8 per cent in August – the first monthly rise since April 2017.
The bump in home values over the month of August was driven by a 1 per cent increase in prices across Australia’s combined capital cities, spurred by improvements in Sydney and Melbourne, where prices jumped 1.6 per cent and 1.4 per cent, respectively.
All of this activity, is logically driven by:
- The RBA’s back to back rate cuts in June and July
- The federal government’s tax deductions/credits hitting people’s bank accounts
- Updated changes to mortgage lending
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