Research

Sydney's auction market is proving to be resilient despite buyer appetite being tested by a lift in homes auctioned each Saturday.

Nationally, vacancy rates held steady for the sixth consecutive month at 2.1 per cent. This stability illustrates that the rental market has adjusted following the COVID-19-induced bounce to 2.6 per cent in April.

Sydney’s auction clearance rate was 68 per cent in October, a solid result which points to a resilient Sydney housing market.

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.