Regional areas continued to lead cities, with prices up 1.87 per cent over the past month and 24.29 per cent over the last year, versus 1.38 per cent and 20.82 per cent gains for the capitals over those respective periods.
However, CoreLogic noted that in the nations biggest cities, Sydney and Melbourne the monthly rate of growth has more than halved since the highs seen in March, when they reached a monthly growth rate of 3.7 per cent and 2.4 per cent respectively.Property listings starting to lift despite low levels of housing inventory
Nationally, CoreLogic counted 47,040 newly advertised properties entering the market over the four weeks ending October 24, up 22.7 per cent on last year and 5.2 per cent above the five-year average. Low levels of housing inventory have been a central factor in the upwards pressure on housing prices.The rise in new listings has outweighed buyer demand, pushing the total number of houses and units available for sale to 141,786, a 6.8 per cent increase in active listings from the recent mid-September low.
"More listings mean more choice for buyers and less urgency in their purchasing decisions," Mr Lawless said."There is a good chance, however, that advertised supply will rise further through spring and early summer which, due to worsening housing affordability and a subtle tightening in credit availability, may not be met by a commensurate lift in demand."
Laughable part this cycle is the reserve banks “looking out for little guy” metrics around employment… while still pumping the asset side 10x that of wages
It’s almost as though something is amis with the policy settings?…. 🤷♂️ 'Housing prices continue to outpace wages by a ratio of about 12:1,' Mr Lawless said. AvidCommentator DFA_Analyst
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