CoreLogic’s Cameron Kusher has released new research showing that sales of so-called ‘affordable’ dwellings – i.e. those priced below $400,000 – has collapsed to record lows, despite recent price falls in Sydney and Melbourne:
Nationally, 29.2% of all houses and 34.6% of all units sold over the 2017-18 financial year transacted for less than $400,000. The share of sales below this price point has fallen from 30.7% for houses and 35.4% for units a year earlier…
An historic low 13.9% of combined capital city house sales and 25.8% of capital city unit sales were under $400,000 over the 2017-18 financial year. The share of sales below $400,000 has fallen over the year from 16.2% of houses and 27.1% of units. Although capital city dwelling values are falling, there continues to be fewer sales occurring below the $400,000 threshold…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
