Please find above the RP Data Housing Update for June, presented by Tim Lawless, which discusses the state-of-play of the Australian housing market as at end-May.
This month’s video sees Lawless discussing last month’s 1.2% drop in national capital city dwelling values, the second consecutive fall in home values after the RP Data index showed a 0.5% decline over April.
Despite the recent price falls, Lawless sees measured improvement in other key housing-related indicators, such as improved auction clearance rates, faster selling times, and higher transaction volumes. However, with average loan sizes remaining stagnant and consumer sentiment falling once more, the market seems to be finely balanced with sellers meeting buyers’ expectations. Hence, the higher transaction volumes without significant price appreciation.
Looking forward, Lawless is tipping a continued modest recovery, with price growth likely to match wages growth over the medium term.
