Property Market Index
Property Market Index August 2017
2
ALLHOMES PROPERTY MARKET INDEX
3
ALLHOMES PROPERTY MARKET INDEX
Sales market 483 5.1% YoY
Houses supplied
Dr Nicola Powell, Data Scientist Buyers continue to be out in force through the winter months. A reflection they are helping to keep the pace of market strength through the traditionally quieter time of the year and utilising low interest rates. Banking regulators have enforced tighter lending standards, new loan applications are being scrutinised and a tougher stance is taken when assessing borrower income. Despite this, buyer activity has not been hampered. Vendors are taking advantage of the competition between prospective buyers with more homes listed for auction. The region had 793 homes scheduled for auction over the three winter months, a jump of 22 per cent compared to winter last year. It should be noted that the remediated Mr Fluffy blocks account for a portion of increased activity.
376 2.3 % YoY
Houses sold
The new financial year has seen initiatives activated by the NSW Government designed to ignite entry-level activity. Stamp duty has now been axed in NSW for new and established homes up to the value of $650,000 with a sliding scale of concession in place for homes between $650,000 and $800,000. The latest housing finance data shows NSW first homebuyer activity has been ignited. A proportion of Canberrans could have contributed to this surge, hopping over the border to take full opportunity of the generous initiatives on offer.
Median Price - ACT & Queanbeyan $700
336 Units supplied
$600 Median price (‘000)
15.4% YoY
$650
$550
$500
$450
$400
-17 Au g
l-1 7 Ju
7
7
n17 Ju
y-1 Ma
r-1
7
Townhouses
Ap
Ma
r-1
17
17
Fe b-
nJa
16
-16
Houses
De c-
6
No v
Oc
t-1
16 Se p-
Au g
261
-16
$350
Units & Apartments
25.5% YoY
Units sold Houses
Townhouses
Units
$651,000
$455,000
$375,000
8.5% YoY
3.9% YoY
1.0% YoY
1. Median price has been calculated from sales over the previous quarter. Trends are based on the moving median price change.
4
ALLHOMES PROPERTY MARKET INDEX
Supply and Demand SOLD
New Supply
Sold
DOM
Days on Market
Gungahlin SOLD
Belconnen SOLD
142
142
6.5%
7.9%
153
138
58
19.6%
20.1%
28.7%
DOM
49
Inner North
17.9%
SOLD
Woden Valley SOLD
63
55
41.3%
18.0%
-15.9%
98
79
40
19.5%
16.4%
11.9%
Inner South SOLD
Weston Creek
65
63
27.3%
22.7%
DOM
79 2.5%
DOM
33
31
95
16.8%
1.1%
29.6%
Greater Queanbeyan SOLD
108
Tuggeranong SOLD
DOM
DOM
82
SOLD
DOM
3.8%
DOM
72
94
16.8%
4.2%
DOM
149
110
52
13.2%
5.2%
16.6%
1. New supply has been determined by the volume of new property listings on allhomes.com.au. 2. Sold is determined by the volume of property marked as sold. 3. DOM refers to the days spent on market. It is calculated by the difference between the date a property was listed and date marked as sold, an average is then taken.
5
ALLHOMES PROPERTY MARKET INDEX
District Price House Price
YoY
Unit & Townhouse Price
YoY
Belconnen
$590,250
7.5%
$389,000
3.0%
Greater Queanbeyan
$635,000
6.5%
$315,000
5.6%
Gungahlin
$695,000
8.1%
$409,000
1.7%
Inner North
$900,000
6.4%
$508,000
4.7%
Inner South
$1,350,000
20.6%
$477,250
0.9%
Tuggeranong
$572,250
8.4%
$410,000
2.7%
Weston Creek
$680,000
7.3%
$380,000
1.0%
Woden Valley
$865,000
10.5%
$400,000
3.7%
Auction Clearance Rates Inner North
79%
Belconnen
77%
Gungahlin
71%
Tuggeranong
64%
Woden Valley
64%
Inner South
62%
Greater Queanbeyan
58%
Weston Creek
31%
31.9% of homes are sold by auction Based on homes listed and auctioned in the ACT and Greater Queanbeyan during August 2017
1. Median price has been calculated from the sales over the previous quarter. Trends are based on the moving median price change. 2. Auction clearance rates are sourced from Australian Property Monitors 1 800 817 616. Copyright APM Pty Limited..
6
ALLHOMES PROPERTY MARKET INDEX
Rental Market Housing Rental Market
366
Asking rents for two- to three-bedroom houses rose annually 3.7 per cent to $450 a week, four-plus bedroom houses rose 5.2 per cent to $590. Price hikes are tough for tenants, particularly whilst wages growth remains stagnant and the cost of living rises.
2.1% YoY
Houses listed
Supply
Supply and Demand
Demand
84 85
90
41 11
ey
k
Va ll
Gr
ea
te
W es
Tu g
to
ge
n
ra
Cr
no
ee
ng
h ut Inn
Inn
er
er
So
No
ah Gu
an
14 82
rQ
ue
34
82
rth
65
ng
be
nn
ya
n
en
82
lin
22
20 82
65
lco
Houses leased
27 35
82
Be
0.6% YoY
50
en
44
381
67
41
W od
72
Unit Rental Market
826
Only a few years ago the market experienced hefty falls to asking rent. Currently a tighter rental market makes for a different scenario today with asking prices rising annually. Ultimately, for some tenants the location, quality or size of home could become a compromise when in search of a lower price-point.
14.7% YoY
Units listed
Supply and Demand Supply
Demand
182 167 150 138
141
137
131
824
115 97
87
85
69
2.8% YoY
51 44 13
Va ll
ey
k n to W es
Tu g
ge r
an
Cr
ee
on g
h So ut er Inn
rth Inn
er
No
lin ah ng Gu
Gr
ea
te
rQ
Be
ue an
lco
be
nn
en
ya n
14
W od en
Units leased
1. Supply is based upon the volume of new rental listings. 2. Demand is based on the volume of listings leased.
7
ALLHOMES PROPERTY MARKET INDEX
Weekly Rent by District Median Weekly Rent Days to lease
House Price
YoY
Unit & Townhouse Price
Belconnen
31
$450
5.6%
$390
4.4%
Greater Queanbeyan
36
$480
10.4%
$290
0.6%
Gungahlin
22
$540
8.2%
$400
5.5%
Inner North
32
$523
6.0%
$440
6.0%
Inner South
34
$625
6.4%
$460
4.9%
Tuggeranong
20
$460
4.5%
$413
4.2%
Weston Creek
49
$500
3.9%
$403
6.8%
Woden Valley
32
$500
4.5%
$390
5.0%
Weekly Rent by Property Type 4+ bedroom house
$590
5.2% YoY
2-3 bedroom house
$450
3.7% YoY
2-3 bedroom unit
$440
6.4% YoY
1 bedroom unit
$370
5.4% YoY
1. Median price is calculated from properties leased over the previous quarter. Trends are based on the moving median price change year-on-year. Median price is based upon the advertised lease price.
YoY
allhomes.com.au
DM15773
© Allhomes Pty Ltd (“Allhomes”), 2017. This report has been prepared as a resource for clients of Allhomes. Opinions, estimates and projections contained herein are genuinely held by Allhomes as at the date of publication, but are subject to change without notice. Except where noted otherwise, all information contained or referenced herein is based on sales and rental data collected by Allhomes in respect of properties advertised on allhomes.com.au. Please see www.allhomes.com.au/ah/act/info/ terms-and-conditions/view for further terms and details about the data supplied. Allhomes believes all information sources relied upon in compiling this document to be reliable, but no representation or warranty is made as to their reliability, accuracy or completeness. Allhomes accepts no liability for any loss or damage (including economic loss or damage, indirect or consequential loss or damage, loss of profit, or loss of opportunity) causes directly or indirectly by use of, reliance on, or reference to, the content of this document.
2
ALLHOMES PROPERTY MARKET INDEX
3
ALLHOMES PROPERTY MARKET INDEX
Sales market 483 5.1% YoY
Houses supplied
Dr Nicola Powell, Data Scientist Buyers continue to be out in force through the winter months. A reflection they are helping to keep the pace of market strength through the traditionally quieter time of the year and utilising low interest rates. Banking regulators have enforced tighter lending standards, new loan applications are being scrutinised and a tougher stance is taken when assessing borrower income. Despite this, buyer activity has not been hampered. Vendors are taking advantage of the competition between prospective buyers with more homes listed for auction. The region had 793 homes scheduled for auction over the three winter months, a jump of 22 per cent compared to winter last year. It should be noted that the remediated Mr Fluffy blocks account for a portion of increased activity.
376 2.3 % YoY
Houses sold
The new financial year has seen initiatives activated by the NSW Government designed to ignite entry-level activity. Stamp duty has now been axed in NSW for new and established homes up to the value of $650,000 with a sliding scale of concession in place for homes between $650,000 and $800,000. The latest housing finance data shows NSW first homebuyer activity has been ignited. A proportion of Canberrans could have contributed to this surge, hopping over the border to take full opportunity of the generous initiatives on offer.
Median Price - ACT & Queanbeyan $700
336 Units supplied
$600 Median price (‘000)
15.4% YoY
$650
$550
$500
$450
$400
-17 Au g
l-1 7 Ju
7
7
n17 Ju
y-1 Ma
r-1
7
Townhouses
Ap
Ma
r-1
17
17
Fe b-
nJa
16
-16
Houses
De c-
6
No v
Oc
t-1
16 Se p-
Au g
261
-16
$350
Units & Apartments
25.5% YoY
Units sold Houses
Townhouses
Units
$651,000
$455,000
$375,000
8.5% YoY
3.9% YoY
1.0% YoY
1. Median price has been calculated from sales over the previous quarter. Trends are based on the moving median price change.
4
ALLHOMES PROPERTY MARKET INDEX
Supply and Demand SOLD
New Supply
Sold
DOM
Days on Market
Gungahlin SOLD
Belconnen SOLD
142
142
6.5%
7.9%
153
138
58
19.6%
20.1%
28.7%
DOM
49
Inner North
17.9%
SOLD
Woden Valley SOLD
63
55
41.3%
18.0%
-15.9%
98
79
40
19.5%
16.4%
11.9%
Inner South SOLD
Weston Creek
65
63
27.3%
22.7%
DOM
79 2.5%
DOM
33
31
95
16.8%
1.1%
29.6%
Greater Queanbeyan SOLD
108
Tuggeranong SOLD
DOM
DOM
82
SOLD
DOM
3.8%
DOM
72
94
16.8%
4.2%
DOM
149
110
52
13.2%
5.2%
16.6%
1. New supply has been determined by the volume of new property listings on allhomes.com.au. 2. Sold is determined by the volume of property marked as sold. 3. DOM refers to the days spent on market. It is calculated by the difference between the date a property was listed and date marked as sold, an average is then taken.
5
ALLHOMES PROPERTY MARKET INDEX
District Price House Price
YoY
Unit & Townhouse Price
YoY
Belconnen
$590,250
7.5%
$389,000
3.0%
Greater Queanbeyan
$635,000
6.5%
$315,000
5.6%
Gungahlin
$695,000
8.1%
$409,000
1.7%
Inner North
$900,000
6.4%
$508,000
4.7%
Inner South
$1,350,000
20.6%
$477,250
0.9%
Tuggeranong
$572,250
8.4%
$410,000
2.7%
Weston Creek
$680,000
7.3%
$380,000
1.0%
Woden Valley
$865,000
10.5%
$400,000
3.7%
Auction Clearance Rates Inner North
79%
Belconnen
77%
Gungahlin
71%
Tuggeranong
64%
Woden Valley
64%
Inner South
62%
Greater Queanbeyan
58%
Weston Creek
31%
31.9% of homes are sold by auction Based on homes listed and auctioned in the ACT and Greater Queanbeyan during August 2017
1. Median price has been calculated from the sales over the previous quarter. Trends are based on the moving median price change. 2. Auction clearance rates are sourced from Australian Property Monitors 1 800 817 616. Copyright APM Pty Limited..
6
ALLHOMES PROPERTY MARKET INDEX
Rental Market Housing Rental Market
366
Asking rents for two- to three-bedroom houses rose annually 3.7 per cent to $450 a week, four-plus bedroom houses rose 5.2 per cent to $590. Price hikes are tough for tenants, particularly whilst wages growth remains stagnant and the cost of living rises.
2.1% YoY
Houses listed
Supply
Supply and Demand
Demand
84 85
90
41 11
ey
k
Va ll
Gr
ea
te
W es
Tu g
to
ge
n
ra
Cr
no
ee
ng
h ut Inn
Inn
er
er
So
No
ah Gu
an
14 82
rQ
ue
34
82
rth
65
ng
be
nn
ya
n
en
82
lin
22
20 82
65
lco
Houses leased
27 35
82
Be
0.6% YoY
50
en
44
381
67
41
W od
72
Unit Rental Market
826
Only a few years ago the market experienced hefty falls to asking rent. Currently a tighter rental market makes for a different scenario today with asking prices rising annually. Ultimately, for some tenants the location, quality or size of home could become a compromise when in search of a lower price-point.
14.7% YoY
Units listed
Supply and Demand Supply
Demand
182 167 150 138
141
137
131
824
115 97
87
85
69
2.8% YoY
51 44 13
Va ll
ey
k n to W es
Tu g
ge r
an
Cr
ee
on g
h So ut er Inn
rth Inn
er
No
lin ah ng Gu
Gr
ea
te
rQ
Be
ue an
lco
be
nn
en
ya n
14
W od en
Units leased
1. Supply is based upon the volume of new rental listings. 2. Demand is based on the volume of listings leased.
7
ALLHOMES PROPERTY MARKET INDEX
Weekly Rent by District Median Weekly Rent Days to lease
House Price
YoY
Unit & Townhouse Price
Belconnen
31
$450
5.6%
$390
4.4%
Greater Queanbeyan
36
$480
10.4%
$290
0.6%
Gungahlin
22
$540
8.2%
$400
5.5%
Inner North
32
$523
6.0%
$440
6.0%
Inner South
34
$625
6.4%
$460
4.9%
Tuggeranong
20
$460
4.5%
$413
4.2%
Weston Creek
49
$500
3.9%
$403
6.8%
Woden Valley
32
$500
4.5%
$390
5.0%
Weekly Rent by Property Type 4+ bedroom house
$590
5.2% YoY
2-3 bedroom house
$450
3.7% YoY
2-3 bedroom unit
$440
6.4% YoY
1 bedroom unit
$370
5.4% YoY
1. Median price is calculated from properties leased over the previous quarter. Trends are based on the moving median price change year-on-year. Median price is based upon the advertised lease price.
YoY
allhomes.com.au
DM15773
© Allhomes Pty Ltd (“Allhomes”), 2017. This report has been prepared as a resource for clients of Allhomes. Opinions, estimates and projections contained herein are genuinely held by Allhomes as at the date of publication, but are subject to change without notice. Except where noted otherwise, all information contained or referenced herein is based on sales and rental data collected by Allhomes in respect of properties advertised on allhomes.com.au. Please see www.allhomes.com.au/ah/act/info/ terms-and-conditions/view for further terms and details about the data supplied. Allhomes believes all information sources relied upon in compiling this document to be reliable, but no representation or warranty is made as to their reliability, accuracy or completeness. Allhomes accepts no liability for any loss or damage (including economic loss or damage, indirect or consequential loss or damage, loss of profit, or loss of opportunity) causes directly or indirectly by use of, reliance on, or reference to, the content of this document.
