Read Time: 3 minutes

Lets take a quick snapshot of the market as it happened in October.

• Home Value Index results show capital city dwelling values have reached new record highs for the month, with values rising across six of the eight capitals. October dwelling values increased by 0.5%, however, this pace of growth has reduced when compared with September (1.0%) and August (1.1%)

• Sydney overall auction clearance rates are up compared to the 12 months prior. On the flip side the total auction numbers are down more than 30% from 1,075 to 720. Nationally we are seeing listing numbers 2.6% lower than a year ago. Hobart lead the charge with almost 33% fewer listings and Canberra with 15% less than last year.

• Apart from Adelaide, Hobart and Perth, every capital city recorded a rise in dwelling values over the past three months. Canberra lead the charge over the same period with a 5.6% increase, lead largely by the detached housing market

• Sydney continued as the stand out based on annual capital gains, recording the largest year-on-year increase
  

• In Melbourne, the annual growth rate increase houses and units is 9.6% and 5.2% respectively. Brisbane’s housing market has shown a larger capital gain spread, with house values up 4.7% compared with a 1.4% fall in unit values over the year.
  

• 49,000 units have been approved for construction in Brisbane, while it’s approximately 96,000 for Sydney and Melbourne over the next two years
  

• Victoria continues to record the strongest annual population growth. Victoria’s population is 1.94 per cent higher than a year ago and this growth rate is 8.4 per cent above the ‘normal’ or decade-average level. New South Wales (1.4%), Queensland (1.3%) and the ACT (1.3%) all follow closely behind. The other states read; Western Australia (1.2%), South Australia (0.6%), Tasmania and Northern Territory (0.4%).
  

• Gross rental yields in Sydney and Melbourne remain at record lows (houses 2.8%). Hobart provides the city with the greatest yields for houses (5.3%), closely followed by Darwin (5.0%).

Cheers

Richie

* Data sourced from SQM Research / HerronToddWhite / CoreLogic / Commbank

#onthehunt #milkchocproperty #propertyconcierge

Make sure you are following us on Facebook, Instagram and Pinterest for more news, handy insights and inspiration.

If you like this post, we’d love it if you could share :)

Disclaimer: All data and information provided on this site is for informational purposes only. Milk Chocolate makes no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.