Market Update - April 2020
NSW April Summary
NSW housing market has eased its foot off the accelerator following a staggering first quarter. This could be result of an influx of new stock onto the market. (Nationally, +14% more than previous 5 year’s April average) and early signs of market fatigue.
Data:
National housing value added +1.8% for the month of April. NSW outperforming the national average with Sydney securing the second highest performing capital city.
Auction clearance remain high, sitting at 80% mark, undoubtedly fuelled by FOMO, cheap borrow and an under supply of stock.
Houses + 2.8% and units +1.3%.
Regional NSW +2.2% in average dwelling value
Houses +2.3% in April (+7.6% for the quarter).
VIC April Summary
The Melbourne market in April has seen a slight ease, following historic March growth of +2.8%. This may be direct result of an arrival of new stock onto the market. (Nationally, +14% more than previous 5 year’s April average) as well as symptoms of participant fatigue.
Data:
Melbourne marked a 1.3% gain in average dwelling value for April.
Auction clearance remain high, fuelled by FOMO, cheap borrow and low stock.
Melbourne added a +1.3% jump in average dwelling value.
Houses + 1.4% and units +1.0%
Regional VIC saw a +1.8% rise in average dwelling value, taking the previous three month’s hike to a total of +7.1%.
QLD April Summary
Following historical growth for Australia in March, April growth has eased off, however, still reflecting impressive figures. Brisbane city posted a +1.7% pop while regional Queensland locked in an impressive +1.9% rise.
Data:
Brisbane added a 1.7% gain in average dwelling value for April totalling a +5.6 per cent upturn for the quarter.
Houses + 1.8% and units +1.0%
Regional QLD marked a +1.9% rise in average dwelling value, taking the previous three month’s hike to a total of +6.1%.
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