Cameron Kusher is Head of Research at CoreLogic, specialising in primary and secondary data analysis, property market commentary and consultancy. Cameron has a thorough understanding of the fundamentals such as demographics, trends, economics and spacial analysis and is a regular keynote speaker for property-related groups, regulated industry bodies, corporations and the government sectors.
New data from the Australian Prudential Regulation Authority suggests the flow of housing credit may have reached a turning point.
Although dwelling values have reduced over recent years, housing is in most instances (much) more expensive than it has been in the past.
The 2019-20 financial year is expected to see fewer sales under $400,000 than those recorded in 2018-19.
The fall in million dollar sales over the past year reflects the overall weaker housing market conditions and the fact that higher valued properties have typically recorded the greatest value falls.
Overall, the latest housing finance data is mirroring other indicators such as auction clearance rates and the CoreLogic Home Value Index, which highlight early signs of improved housing market conditions.
With the recent release of the quarterly consumer price index (CPI) data for June 2019, we’ve updated our analysis of real (inflation-adjusted) changes in dwelling values.
There remains a level of conservatism and caution from lenders, despite more accessible mortgage credit.
Lenders are well within their rights to keep a portion of future rate cuts up their sleeve.
The CoreLogic Stratified Hedonic Index has shown a slow down in the rate of value decline for the most expensive properties.