Research

Melbourne auction market rebounded in October as in-person auctions resumed.

Vacancy rates across the capitals largely declined in October, except in Hobart and Melbourne. Melbourne’s vacancy rate continues to accelerate to record highs.

Getting that first leg up onto the property ladder was already tough but the effects of the COVID-19 crisis are going to put home ownership even farther out of reach for an entire generation.

As restrictions slowly ease and we navigate a new-normal post-pandemic, how have our property markets reacted across the globe?

Vacant rental listings continue to rise in Melbourne, while all other capitals maintain their downward trend from the April peak.

Buying conditions have improved, and first-home buyers appear to be taking advantage of low interest rates, retreating investor activity, reduced foreign buyer interest, the extension of the federal government’s first home loan deposit scheme and other state-based incentives.

COVID-19-related lockdowns sent buyer demand into a state of hiatus, but activity from people likely to buy has rebounded in all capital cities apart from Melbourne.

Domain analysis comparing the difference between house price growth and wage growth reveals most capital cities, except Canberra and Hobart, have seen wage growth outstrip house price growth over the pandemic-affected June 2020 quarter.

August clearance rates nudge higher from July but remain lower than last year

Sydney’s auction clearance rate held steady over August despite buyer appetite being significantly tested by a lift in homes auctioned.