CoreLogic RP house price data for April shows a jump of 1.7% m/m
- (prior was +0.2%)
- +3.3% over the first four months of 2016
Comments from CoreLogic/RP:
- Across the country, housing market trends remain mixed
- The improvement in the rate of capital gains has been 'broad-based' during 2016
- Every capital city except Perth recording a lift in dwelling values over the calendar year to date
- "While we've seen capital gains moderate substantially after peaking last year in Sydney and Melbourne, dwelling values continue to trend higher, just not as fast."
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While not FX, these comments on one particular sector of the real estst market may be of interest to Aussies:
- CoreLogic's Settlement Risk report shows a huge 31,000 apartments due to settle across Melbourne's inner city and almost 17,500 units in inner Brisbane
- "The risk may have been exacerbated in recent weeks with three of the big four banks reportedly limiting the extent to which they are willing to lend to non-residents"
Such a huge supply coming on line may very well be good news for inner Melbourne and inner Brisbane buyers looking for a lower price