Please find above the RP Data Housing Update for April, presented by Tim Lawless, which discusses the state-of-play of the Australian housing market as at end-March.
This month’s video sees Lawless discussing the ongoing improvement in market conditions following the 2.8% quarterly increase in dwelling values, which was the strongest result since May 2010:
Dwelling values everywhere have now recovered since bottoming-out last year:
Although values remain below their previous peak in all markets, except Sydney:
Overall, conditions are improving, with auction clearance rate picking-up:
And the level of vendor discounting reducing:
RP Data’s leading mortgage index also suggests that the ABS housing finance series will record meaningful increases in finance commitments over coming months:
Overall, Lawless sees the rate of capital growth slowing over the remainder of 2013, as the economy struggles to rebalance away from mining-led growth, interest rates bottom, unemployment rises, and first-home buyers demand remains subdued.
However, these headwinds will be offset, to some extent, by surging population growth:
As well as ongoing strong demand from investors:
