Brisbane, Adelaide hold up house prices

CoreLogic with their early new year read on housing markets:

“Housing market activity is typically very quiet through late December through to late January, however we are seeing some data flowing through that gives us an early view on activity.  Based on the early readings so far, housing values are up across each of the capital cities over the past week, however similar to the monthly trend, Brisbane and Adelaide standout with the strongest conditions.

The trend in new listings over the past four weeks is generally higher than a year ago across most markets, apart from Melbourne, Adelaide and Hobart where the four week trend in new listings is down compared with the same period a year ago.

Brisbane stands out with the largest jump in new listings relative to last year, with a 43.8% jump in freshly advertised stock, suggesting home owners are taking advantage of the strong selling conditions across South East Queensland.  Overall stock levels remain almost 29% below the five year average across Brisbane reflecting an ongoing shortage of available supply despite the surge in new listings.

As market activity ramps up through the month we will get a better indication for how the housing trends are shaping up for the new year.”

 

Full report.

Houses and Holes

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