Core logic - RP DATA housing-market-update-july

Monthly Chart Pack
Our Insights. Your Story.
July 2020

218 July 2019© CoreLogic,Inc. All Rights Reserved.
Residential Real Estate Underpins Australia’s Wealth
Data as at July 2020
RESIDENTIAL REAL ESTATE
$7.1 Trillion
AUSTRALIAN SUPERANNUATION
$2.7 Trillion
AUSTRALIAN LISTED STOCKS
$2.0 Trillion
COMMERCIAL REAL ESTATE
$1.0 Trillion
Source: CoreLogic, APRA, RBA, ABS, ASX
10.5 million
Number of dwellings
$1.84 trillion
Outstanding mortgage debt
53.9%
Household wealth held in housing
424,443
Total sales p.a.
$277.8 billion
Gross value of sales p.a.
© 2020 CoreLogic, Inc. All Rights Reserved.

The quarterly change in national dwelling values was -0.8%, led by
a -1.1% decline across the capital city markets
Quarterly change in dwelling values Quarterly change – Jun-20
Source: CoreLogic© 2020 CoreLogic, Inc. All Rights Reserved.
-0.8%
-2.3%
-0.2%
0.7%
-1.4%
1.0%
0.4%
0.7%
0.6%
0.6%
-0.1%
1.6%
-2.3%
2.5%
-0.9%
-1.1%
0.3%
-0.8%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional Vic
Regional Qld
Regional SA
Regional WA
Regional Tas
Regional NT
Combined capitals
Combined regionals
Australia
-4%
-2%
0%
2%
4%
6%
8%
Jun 10 Jun 12 Jun 14 Jun 16 Jun 18 Jun 20
Combined Capitals Combined Rest of State

The COVID-19 downturn came at a time when most markets
were experiencing strong upward momentum, with is reflected
in annual growth rates
Annual change in dwelling values Annual change – June-20
-10%
0%
10%
20%
Combined Capitals Combined Rest of State
13.3%
10.2%
4.4%
2.0%
-2.5%
6.4%
-1.5%
6.3%
3.9%
4.6%
4.5%
2.5%
-7.3%
10.3%
2.0%
8.9%
3.7%
7.8%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional Vic
Regional Qld
Regional SA
Regional WA
Regional Tas
Regional NT
Combined capitals
Combined regionals
Australia

The rate of decline over the June quarter has been more
significant across upper quartile value properties in Sydney
and Melbourne
Quarterly dwelling value growth by quartile, Greater Capital City Regions – June 2020
0.2%
-0.6%
-1.3%
-0.5%
-1.3%
-3.7%
-0.2%
0.1%
-0.6%
0.7%
0.5%
0.9%
-1.2%
-1.5% -1.4%
0.8%
1.4%
0.6%
1.2%
0.6%
-0.2%
0.6%
1.3%
-0.1%
-4%
-3%
-2%
-1%
0%
1%
2%
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

Recent price declines amid COVID-19 have started to materialise
in lower annual growth rates across Sydney and Melbourne
Source: CoreLogic
Annual change in dwelling values
© 2020 CoreLogic, Inc. All Rights Reserved.
13.3%
10.2%
4.4%
2.0%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Sydney Melbourne Brisbane Adelaide
-2.5%
-1.5%
6.3%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
May 10 May 12 May 14 May 16 May 18 May 20
Perth Hobart Darwin ACT

The CoreLogic daily home
value index showed a
change of pace halfway
through March. Data to
July 1st shows the
combined capital cities
declined by eight tenths of
a percent in the past 28
days
Rolling 28-day change in daily home value
index, combined capitals
-0.8%
-1.0%
-0.5%
0.0%
0.5%
1.0%
1.5%
01-Feb 01-Mar 01-Apr 01-May 01-Jun 01-Jul

818 July 2019© CoreLogic,Inc. All Rights Reserved.© 2020 CoreLogic, Inc. All Rights Reserved.
Quarterly and annual change in
dwelling values - Sydney
© 2020 CoreLogic, Inc. All Rights Reserved. Source: CoreLogic
 Sydney dwelling values fell by -0.8%
in June
 Dwelling values were down -0.8% in
the quarter
 Sydney dwelling values are up by
13.3% in the past year
 Sydney dwelling values are -3.5%
below the record high, which was in
July 2017
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Quarterly Change Annual Change

dwelling values - Melbourne
 Melbourne dwelling values fell by
-1.1 % in June
 Dwelling values fell -2.3% in the
quarter
 Melbourne dwelling values are up by
 Melbourne dwelling values are -2.3%
from the record high, which was in
March 2020
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%

dwelling values - Brisbane
 Brisbane dwelling values fell by -0.4%
in June
 Dwelling values declined -0.2% in the
quarter
 Brisbane dwelling values are up by
 Brisbane dwelling values are -0.5%
April 2020
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%

dwelling values - Adelaide
 Adelaide dwelling values fell -0.2%
over June
 Dwelling values increased 0.7% in the
quarter
 Adelaide dwelling values were up by
 Adelaide dwelling values are -0.2%
May 2020
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%

dwelling values - Perth
 Perth dwelling values were down
-1.1% in June
 Dwelling values decreased -2.5% in
the quarter
 Perth dwelling values are down by
-2.5% in the past year
 Perth dwelling values are now -21.8%
June 2014
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%

dwelling values - Hobart
 Hobart dwelling values increased
0.3% in June
quarter
 Hobart dwelling values are up by
 Hobart dwelling values are currently
at a record high
-10%
-5%
0%
5%
10%
15%
20%

dwelling values - Darwin
 Darwin dwelling values increased 0.3%
in June
quarter
 Darwin dwelling values are down by
-1.5% in the past year
 Darwin dwelling values are -31.1%
May 2014
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%

dwelling values - ACT
 ACT dwelling values increased 0.1% in
June
 Dwelling values were up 0.7% in the
quarter
 ACT dwelling values were up by
 The ACT dwelling market is currently
at a record high
-10%
-5%
0%
5%
10%
15%

0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
CoreLogic estimates
that national settled
sales bounced back
remarkably over May
and June, increasing a
further 29.5% over the
month
Source: CoreLogic
Decade average
Monthly sales with six month moving average, National
Note: recent months are modelled estimates, and are
therefore subject to revision
-36.6%
-38.1%
-21.1%
-9.5%
-40.3%
-37.6%
-3.2%
-34.3%
42.4%
59.0%
74.4%
1.5%
143.5%
74.2%
15.3%
11.8%
SYD
MELB
BRIS
ADL
PER
HOB
DAR
ACT
Change in sales volumes for select periods
Change in Sales Volumes - March to April Change in Sales Volumes - April to June

1718 July 2019© CoreLogic,Inc. All Rights Reserved. Source: CoreLogic, Westpac/MelbourneInstitute© 2020 CoreLogic, Inc. All Rights Reserved.
Note: recent months of sales volumes are modelled estimates, and are subject to revision
Consumer sentiment recovered to pre-COVID levels in June,
which has supported a recovery in sales volumes over the
month
0
20
40
60
80
100
120
140
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
National sales volumes v consumer sentiment
Consumersentimentindex(RHS)Monthlysales volumes(LHS)

1818 July 2019© CoreLogic,Inc. All Rights Reserved. Source: CoreLogic
0.7%
-2%
0%
2%
4%
6%
8%
Jun 08 Jun 10 Jun 12 Jun 14 Jun 16 Jun 18 Jun 20 -1.0%
0.0%
0.6%
2.2%
2.2%
-0.1%
-1.0%
1.4%
2.1%
2.1%
1.4%
3.9%
5.0%
3.5%
-3.1%
0.2%
2.1%
0.7%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National
Growth in national rent values were 0.7% in the year to June.
However, rent values are still -0.5% lower than the recent peak
in March 2020.
Annual change in rental rates - National Annual change in rental rates

Rental yields have come down to 3.73% over June, off the back of
a -0.3% decline in rent values across Australia
Gross rental yields - National Gross rental yields as at June-20
3.73%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
2.9%
3.2%
4.4%
4.4%
4.4%
4.7%
5.9%
4.7%
4.6%
4.5%
5.2%
5.8%
6.2%
5.1%
6.9%
3.4%
4.9%
3.7%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National

Homes are taking longer to sell, with the national median
number of days on market rising from 43 days over the
March quarter to 45 days over the June quarter
Median days on market Median days on market June 2019 v June 2020
These charts show the median days on market over 3 month rolling periods.
41
57
0
10
20
30
40
50
60
70
80
90
100
Combined capitals Combined regionals
54
47
52
49
64
20
67
51
70
53
59
100
82
46
72
51
63
55
38
37
47
42
53
29
58
46
57
48
57
95
85
56
115
41
57
45
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
ACT
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National Jun-20
Jun-19

Over the June quarter, vendor discounting started to deepen.
The median vendor discount was 4.4% nationally, down from
4.3% in the March quarter
Median vendor discount Median vendor discount June 2019 v June 2020
These charts show median vendor discounting over 3 month rolling periods.
-6.5%
-6.7%
-5.0%
-5.4%
-6.9%
-4.1%
-7.3%
-3.1%
-5.5%
-5.2%
-5.8%
-6.1%
-8.6%
-4.5%
-4.8%
-6.1%
-5.6%
-5.9%
-3.9%
-3.9%
-4.4%
-4.2%
-5.2%
-3.3%
-7.1%
-2.2%
-4.3%
-4.1%
-5.1%
-6.3%
-7.4%
-3.7%
-4.8%
-4.2%
-4.7%
-4.4%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
ACT
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National
Jun-20 Jun-19
-4.2%
-4.7%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
Combined capitals Combined regionals

New listings have increased significantly over June. As of July
5th, new listings had increased 44.3% from a low in early May
New Listings, rolling 28-day count, national

However, high sales volumes mean that total listings have
continued to trend down, and are 15.8% lower than a recent
peak at mid-March
Total listings, rolling 28-day count, national

New listings have
now climbed 6.9%
on the equivalent
period from last
year across the
combined capital
cities.
Combined regional
areas still have a
relatively low level
of new listings from
the same period in
2019. Source: CoreLogic. Data is a year-over-year comparison for the28 days ending 31st of May
-3.3%
6.9%
-17.0%
24.8%
18.1%
-8.4%
-14.8%
2.0%
-29.3%
-31.5%
-12.6%
-15.8%
-9.4%
-17.3%
-30.6%
-19.5%
-31.9%
-18.0%
National
Combined Capital Cities
Combined Regional
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Rest of NSW
Rest of Vic
Rest of Qld.
Rest of SA
Rest of WA
Rest of Tas
Rest of NT
New listings, change from equivalent
period last year
-17.0%
-16.1%
-18.0%
-10.8%
-1.7%
-22.3%
-19.8%
-28.7%
-23.5%
-21.3%
-27.5%
-21.6%
-15.6%
-17.2%
-12.2%
-16.2%
-25.8%
-18.1%
Total listings, change from
equivalent period last year

Weekly clearance rates and auction volumes, combined capital cities
As auction volumes started to recover, the combined
capital cities auction clearance rate averaged 58.9% over
June
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
Numberofauctions
ClearanceRate
Number of auctions (RHS)
Auction clearance rate (LHS)
Auction clearance rate, 4 week average (LHS)

Monthly number of dwellings approved for
construction, National (Seasonally adjusted
data)
Over May, dwelling approvals declined 16.4% month-on-
month, to the lowest levels since January 2013
Source: CoreLogic, ABS© 2020 CoreLogic, Inc. All Rights Reserved.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
May 10 May 12 May 14 May 16 May 18 May 20
Houses Units
3,828
5,316
2,421
1,036
1,322
313
3,395
4,556
2,242
940
1,204
240
New South
Wales
Victoria Queensland Western
Australia
South Australia Tasmania
Monthly dwelling approvals by state, seasonally
adjusted
Apr 20 May 20

New home lending
among investors fell
4.8% over April,
while owner
occupier lending fell
5.0%.
It is worth noting
that finance data is
lagged, and the
sharp decline in
lending may reflect
the low sales
volumes seen over
April.
Monthly value of new finance
commitments, total
($ billions)
Portion of new lending for
investment housing (excluding
refinance)
$3
$5
$7
$9
$11
$13
$15
$17
Apr 05 Apr 10 Apr 15 Apr 20
Thousands
Owner occupiers
Investors
26.2%
36.5%
25%
30%
35%
40%
45%
50%
Apr 05 Apr 10 Apr 15 Apr 20

The latest lending data shows the share of first home
buyer lending is at its highest since December 2011
First home buyers as a portion of owner-occupier finance
commitments (values)
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Apr 10 Apr 12 Apr 14 Apr 16 Apr 18 Apr 20
NSW Vic Qld SA WA Tas 30.3%
27.4%
34.6%
29.7%
23.3%
39.8%
24.7%
43.1%
30.9%
Aust
NSW
Vic
Qld
SA
WA
Tas
NT
ACT
April 2020

Over April, investor participation declined in every state
except Victoria, and the NT
Investors as a portion of total value of lending (excluding refinancing)
26.2% 29.0% 27.8%
22.0% 22.5%
14.5%
20.1% 18.2% 19.8%
Aust NSW Vic Qld SA WA Tas NT ACT
April 2020

The cash rate target was held at its record low through July.
The RBA have reported the actual cash rate has recently
traded even lower than this target
Source: CoreLogic, RBA© 2020 CoreLogic, Inc. All Rights Reserved.
7.25%
3.00%
4.75%
2.50%
1.50%
0.25%
0%
1%
2%
3%
4%
5%
6%
7%
8%
Jul 00 Jul 05 Jul 10 Jul 15 Jul 20
RBA Cash Rate

Average new loan rates generally declined in May, but the
rate of decline slowed compared with rate falls in April
Source: CoreLogic, RBA© 2020 CoreLogic, Inc. All Rights Reserved.
Note: Data reported in the rate by product and borrower tables are based on the new RBA ‘Housing Lending Rates’ publication, based on Economic and
Financial Statistics (EFS) collection. Data is based on typical rates of new lending.
2.73%
3.15%
2.5%
2.8%
3.1%
3.4%
3.7%
4.0%
Aug 19 Nov 19 Feb 20 May 20
Investor premium based on monthly average of
new loans
Owner Occupiers Investors
42 basis
points
2.95%
2.34%
3.41%
2.76%
3.32%
2.76%
3.37%
3.09%
2.93%
2.33%
3.37%
2.69%
3.31%
2.73%
3.31%
3.03%
Variable
Fixed (3 years or less)
Interest-only
Principal-and-interest
Variable
Fixed (3 years or less)
Interest-only
Principal-and-interest
OwnerOccupierInvestor
Average mortgage rate by product type
May-20
Apr-20

Disclaimer
In compiling this publication, RP Data Pty Ltd trading as 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
Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2020. In consideration of the State permitting use of this data you acknowledge and agree 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, 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 breach of the privacy laws.
South Australian Data
This information is based on data supplied by the South Australian Government and is published by permission. The South Australian Government does not accept any responsibility for the accuracy or completeness of the published information
or suitability for any purpose of the published information or the underlying data.
New South Wales Data
Contains property sales information provided under licence from the Land and Property Information (“LPI”). CoreLogic is authorised as a Property Sales Information provider by the LPI.
Victorian Data
The State of Victoria owns the copyright in the Property Sales Data which constitutes the basis of this report and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968
(Cth). The State of Victoria does not warrant the accuracy or completeness of the information contained in this report and any person using or relying upon such information 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.
Western Australian Data
Based on information provided by and with the permission of the Western Australian Land Information Authority (2020) trading as Landgate.
Australian Capital Territory Data
The Territory Data is the property of the Australian Capital Territory. No part of it may in any 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 Land Authority GPO Box 1908 Canberra ACT 2601.
Tasmanian Data
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. The Crown in Right of Tasmania and its employees and
agents:
a) give no warranty regarding the data's accuracy, completeness, currency or suitability for any particular purpose; and
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.
Base data from the LIST © State of Tasmania http://www.thelist.tas.gov.au

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