National unit values fell for the second consecutive month in June, as rising interest rates put further downward pressure on the country’s two biggest cities, Sydney and Melbourne, according to the latest CoreLogic unit market update.
CoreLogic’s Cordell Construction Cost Index (CCCI) for Q2 2022 showed national residential construction costs increased 10.0% over the 12 months to June 2022, the highest annual growth rate on record outside of the introduction of the GST (10.2% over the year to March 2001).
CoreLogic Research team’s Monthly Chart Pack provides a detailed overview of key market metrics including the combined value of residential real estate, sales volumes and dwelling values. Catch up on everything that happened in May.
The rate of profit-making sales across the Australian property market has fallen for the first time since August 2020, providing yet another sign that there’s been a turning point in housing conditions.
Recent headlines are dominated by rising interest rates, and the start of a downswing in dwelling values particularly across the lower east coast of Australia. But the latest CoreLogic Home Value Index shows Perth dwelling values at a new record high, after almost eight years