Is the Australian rental boom ending?

The latest CoreLogic Australia Property Pulse data indicates the rental boom is ending. Rental demand weakened in July and August due to lower demand from reduced migration and affordability issues, which caused changes in household formation. New building developments and Investor activity also increased, helping to ease the pressure on rents.

We have received the CoreLogic April 2023 Home Value Index Report, which contains valuable information about the current state of the property market. Despite the impact of high interest rates and inflation, housing values increased by 0.6% in April. This is mainly due to a persistent low supply in the market. The April Home Value Index (HVI) by CoreLogic provides essential insights for those closely monitoring property market trends and key insights from CoreLogic Oceanic Research Director Tim Lawless. This is what he has to say about the latest HVI data.

TE “Cheat Notes” from the CoreLogic HVI March 2024.

Housing values recorded a subtle re-acceleration in February as sentiment improved. The month saw a broad-based rise in housing values, reflected positively in CoreLogic's national Home Value Index (HVI) with a 0.6% increase. This upturn signals a potential shift in the real estate landscape for the better.

CoreLogic Property Pulse Report is out - The Gap widens between house and unit values

Factors like land value, scarcity, and the need for more space during the pandemic have caused house prices to increase much more than unit prices in the last four years. Fast forward almost four years later to March 2024, and that premium has jumped to 45.2% or $293,950.