Core Logic housingmarket report updates - June 2020

Monthly Chart Pack
Our Insights. Your Story.
June 2020

218 July 2019© CoreLogic, Inc. All Rights Reserved.
Residential Real Estate Underpins Australia’s Wealth
Data as at June 2020
RESIDENTIAL REAL ESTATE
$7.2 Trillion
AUSTRALIAN SUPERANNUATION
$2.7 Trillion
AUSTRALIAN LISTED STOCKS
$2.0 Trillion
COMMERCIAL REAL ESTATE
$1.0 Trillion
Source: CoreLogic, APRA, RBA, ABS, ASX
10.4 million
Number of dwellings
$1.83 trillion
Outstanding mortgage debt
52.4%
Household wealth held in housing
423,007
Total sales p.a.
$279.6 billion
Gross value of sales p.a.
© 2020 CoreLogic, Inc. All Rights Reserved.

Quarterly growth in national dwelling values slipped to just 0.6% in
the 3 months to May, as dwelling prices saw the first month-on-
month decline since June 2019
Quarterly change in dwelling values Quarterly change – May-20
Source: CoreLogic© 2020 CoreLogic, Inc. All Rights Reserved.
-4%
-2%
0%
2%
4%
6%
8%
May 10 May 12 May 14 May 16 May 18 May 20
Combined Capitals Combined Rest of State
1.1%
-0.8%
0.8%
1.1%
0.1%
0.5%
2.1%
1.2%
0.8%
1.7%
1.1%
1.8%
0.2%
3.0%
-2.1%
0.5%
1.1%
0.6%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional Vic
Regional Qld
Regional SA
Regional WA
Regional Tas
Regional NT
Combined capitals
Combined regionals
Australia

Annual growth rates understate the recent slowdown in
momentum, but point to an improving market before the onset
of COVID-19
Annual change in dwelling values Annual change – May-20
-10%
0%
10%
20%
30%
Combined Capitals Combined Rest of State
14.3%
11.7%
4.3%
1.8%
-2.1%
6.2%
-2.6%
5.1%
3.3%
4.3%
4.6%
2.8%
-6.5%
9.5%
2.2%
9.7%
3.5%
8.3%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional Vic
Regional Qld
Regional SA
Regional WA
Regional Tas
Regional NT
Combined capitals
Combined regionals
Australia

Month-on-month results over May show that declines in Sydney
and Melbourne market were led by the upper quartile of values
Monthly dwelling value growth by quartile, Greater Capital City Regions – May 2020
0.1%
-0.4%
-0.6%
-0.3%
-0.6%
-1.3%
-0.3%
0.0% -0.1%
0.5%
0.3%
0.5%
-0.6%
-0.7%
-0.4%
0.5%
0.9% 0.8%
-2.2%
-1.6%
-1.3%
0.4%
0.6% 0.5%
25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th 25th 50th 75th
SYD MELB BRIS ADL PER HOB DAR ACT

The annual uplift in dwelling market values at May 2020 was
high across Sydney, Melbourne, Hobart and the ACT
Source: CoreLogic
Annual change in dwelling values
14.3%
11.7%
4.3%
1.8%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Sydney Melbourne Brisbane Adelaide
-2.1%
6.2%
-2.7%
5.1%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Perth Hobart Darwin Australian Capital Territory

The CoreLogic daily home
value index showed a
change of pace halfway
through March. Data to
June 4th shows the
combined capital cities
declined by half a percent
in the past 28 days
Rolling 28-day change in daily home value
index, combined capitals
-0.5%
-0.8%
-0.6%
-0.4%
-0.2%
0.0%
0.2%
0.4%
0.6%
0.8%
1.0%
1.2%
1.4%
13-Feb
12-Mar
09-Apr
07-May
04-Jun

818 July 2019© CoreLogic, Inc. All Rights Reserved.© 2020 CoreLogic, Inc. All Rights Reserved.
Quarterly and annual change in
dwelling values - Sydney
© 2020 CoreLogic, Inc. All Rights Reserved. Source: CoreLogic
 Sydney dwelling values fell by -0.4%
in May
 Dwelling values increased 1.1% in the
quarter
 Sydney dwelling values are up by
14.3% in the past year
 Sydney dwelling values are -2.7%
below the record high, which was in
July 2017
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Quarterly Change Annual Change

dwelling values - Melbourne
 Melbourne dwelling values fell by
-0.9% in May
 Dwelling values fell -0.8% in the
quarter
 Melbourne dwelling values are up by
 Melbourne dwelling values are -1.2%
from the record high, which was in
March 2020
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%

dwelling values - Brisbane
 Brisbane dwelling values fell by -0.1%
in May
quarter
 Brisbane dwelling values are up by
 Brisbane dwelling values are -0.1%
April 2020
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%

dwelling values - Adelaide
 Adelaide dwelling values increased
0.4% in May
quarter
 Adelaide dwelling values were up by
 Adelaide dwelling values are
currently at a record high
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%

dwelling values - Perth
 Perth dwelling values were down
-0.6% in May
quarter
 Perth dwelling values are down by
-2.1% in the past year
 Perth dwelling values are now -20.9%
June 2014
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%

dwelling values - Hobart
 Hobart dwelling values increased
0.8% in May
quarter
 Hobart dwelling values are up by
 Hobart dwelling values are currently
at a record high
-10%
-5%
0%
5%
10%
15%
20%

dwelling values - Darwin
 Darwin dwelling values fell by -1.6% in
May
quarter
 Darwin dwelling values are down by
-2.6% in the past year
 Darwin dwelling values are -31.3%
May 2014
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Apr 15 Apr 16 Apr 17 Apr 18 Apr 19 Apr 20

dwelling values - ACT
 ACT dwelling values increased 0.5% in
May
 Dwelling values were up 1.2% in the
quarter
 ACT dwelling values were up by
 The ACT dwelling market is currently
at a record high
-10%
-5%
0%
5%
10%
15%

CoreLogic estimates that settled sales bounced back
remarkably over May, increasing 18.5% over the month
after a revised -32.6% fall in April.
Source: CoreLogic
Decade average
Monthly sales with six month moving average, National Annual change in settled sales
Note: recent monthsare modelledestimates,and are thereforesubjectto revision
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
May-10
May-11
May-12
May-13
May-14
May-15
May-16
May-17
May-18
May-19
May-20
24.6%
12.5%
6.3%
-2.6%
6.6%
-5.3%
1.8%
17.3%
4.2%
1.6%
8.6%
5.9%
6.8%
0.8%
-14.2%
12.4%
5.1%
9.6%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National

1718 July 2019© CoreLogic, Inc. All Rights Reserved. Source: CoreLogic, Westpac/Melbourne Institute© 2020 CoreLogic, Inc. All Rights Reserved.
Note: recent monthsof sales volumes are modelledestimates,and are subject to revision
Housing market activity is closely aligned with consumer
sentiment. Although consumer confidence readings remain
well below average, spirits showed a strong lift in May.
0
10,000
20,000
30,000
40,000
50,000
60,000
0
20
40
60
80
100
120
140
May 90 May 95 May 00 May 05 May 10 May 15 May 20
Volumeofdwellingsales
Consumersentimentindex
Consumer sentiment v Volume of dwellings sales
Volume of sales (RHS)Consumersentiment index (LHS)

Annual growth in rents recovered slightly in the year to May.
However, rent values are still -0.2% lower than the recent peak
in March 2020.
Annual change in rental rates - National Annual change in rental rates
0.9%
-2%
0%
2%
4%
6%
8%
May 08 May 10 May 12 May 14 May 16 May 18 May 20 -0.5%
0.7%
0.9%
2.2%
1.8%
1.2%
-1.3%
0.4%
2.2%
2.3%
1.6%
1.7%
4.5%
3.1%
-2.9%
0.5%
2.2%
0.9%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National

Between a mild recovery in rents and dwelling value falls, national
rent yields increased 3 basis points over May. This also breaks a
continued trend of record low yields across Sydney
Gross rental yields - National Gross rental yields as at May-20
3.75%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
3.0%
3.2%
4.4%
4.4%
4.3%
4.9%
5.8%
4.7%
4.6%
4.5%
5.2%
5.6%
6.1%
5.1%
6.9%
3.5%
4.9%
3.8%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National

Days on market has increased in the 3 months to May
across the capital cities, which may be a function of weaker
market conditions amid COVID-19
Median days on market Median days on market May 2019 v May 2020
These charts show the median days on market over 3 month rolling periods.
32
51
0
10
20
30
40
50
60
70
80
90
100
Combined capitals Combined regionals
51
43
47
48
58
17
65
49
70
49
58
96
79
44
72
48
62
52
28
28
37
42
40
22
53
36
52
40
53
86
75
42
91
32
51
37
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
ACT
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National
May-20
May-19

Vendor discounting across the capitals also deepened in
the 3 months to May, reflecting value falls over the month
Median vendor discount Median vendor discount May 2019 v May 2020
These charts show median vendor discounting over 3 month rolling periods.
-3.9%
-4.5%
-7.0%
-6.0%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
Combined capitals Combined regionals
-6.8%
-6.7%
-5.0%
-5.2%
-6.9%
-4.1%
-6.8%
-3.1%
-5.5%
-5.0%
-5.8%
-6.1%
-8.2%
-4.5%
-4.8%
-6.1%
-5.6%
-5.9%
-3.4%
-3.6%
-4.2%
-4.3%
-5.2%
-2.7%
-6.4%
-1.8%
-4.3%
-4.1%
-4.8%
-5.8%
-7.5%
-3.7%
-3.7%
-3.9%
-4.5%
-4.3%
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
ACT
Regional NSW
Regional VIC
Regional QLD
Regional SA
Regional WA
Regional TAS
Regional NT
Combined capitals
Combined regionals
National
May-20 May-19

At the 28 days ending 31st of May, new listings had trended
up from the beginning of the month
New Listings, rolling 28-day count, national

However, there has been strong absorption of new listings
by buyers, meaning total listings have continued to trend
down
Total listings, rolling 28-day count, national
156,491
0
50,000
100,000
150,000
200,000
250,000
300,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016 2017 2018 2019 2020
As at 31st May, 2020

The combined
capital city markets
have seen a year-
on-year decline in
total listings of
26.2%, while the
combined regional
areas are down
22.0% on the same
time last year
Source: CoreLogic. Data is a year-over-year comparison for the 28 days ending 31st of May
-28.0%
-23.0%
-35.7%
-5.2%
-21.3%
-30.2%
-36.9%
-34.0%
-40.3%
-38.9%
-29.2%
-37.6%
-35.5%
-33.4%
-42.0%
-28.9%
-47.6%
-48.5%
National
Combined Capital Cities
Combined Regional
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Rest of NSW
Rest of Vic
Rest of Qld.
Rest of SA
Rest of WA
Rest of Tas
Rest of NT
New listings, change from
equivalent period last year
-24.2%
-26.2%
-22.0%
-22.7%
-20.5%
-27.4%
-27.6%
-35.4%
-28.6%
-26.8%
-29.0%
-25.3%
-22.3%
-21.6%
-13.4%
-17.8%
-30.3%
-15.9%
National
Combined Capital Cities
Combined Regional
Sydney
Melbourne
Brisbane
Adelaide
Perth
Hobart
Darwin
Canberra
Rest of NSW
Rest of Vic
Rest of Qld.
Rest of SA
Rest of WA
Rest of Tas
Rest of NT
Total listings, change from
equivalent period last year

Weekly clearance rates, combined capital cities
Clearance rates have partially recovered as restrictions on
on-site auctions have been lifted
61.3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
May-15 May-16 May-17 May-18 May-19 May-20
ClearanceRate
Auction clearance rate Auction clearance rate, 4 week average

Over May, fewer auctions were withdrawn and more vendors
tested the market under normal auction conditions (rather than
selling prior to the auction event)
* As a % of all auction results * As a % of all ‘sold’ auction results
Auction outcomes, combined capital cities
82.7%
37.2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
31/05/2015
31/05/2016
31/05/2017
31/05/2018
31/05/2019
31/05/2020
% Sold Prior to Auction
11.8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
31/05/2015
31/05/2016
31/05/2017
31/05/2018
31/05/2019
31/05/2020
% Withdrawn from auction

Monthly number of dwellings approved for
construction, National (Seasonally adjusted
data)
Dwelling approvals, which are generally led by price
signals, declined 1.8% in April in seasonally adjusted terms
Source: CoreLogic, ABS© 2020 CoreLogic, Inc. All Rights Reserved.
5,435
5,069
2,336
1,201
853
306
3,809
5,356
2,443
1,350
1,032
306
New South
Wales
Victoria Queensland Western
Australia
South
Australia
Tasmania
Monthly dwelling approvals by state,
seasonally adjusted
Mar-2020 Apr-2020
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Houses Units

New home lending
among investors fell
-2.5% over March,
as the portion of
finance for investors
continued to trend
to a record low.
Owner occupier
lending rose 1.2% in
March, which
included a 2.5% lift
in lending values to
first home buyers.
Monthly value of new finance
commitments, total
($ billions)
Portion of new lending for
investment housing (excluding
refinance)
$14.3
$5.1
$3
$5
$7
$9
$11
$13
$15
$17
Mar04
Mar06
Mar08
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
Thousands
Owner occupiers
Investors
26.2%
36.6%
25%
30%
35%
40%
45%
50%
Mar04
Mar06
Mar08
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20

Over March, first home buyer participation as a portion of
owner-occupiers was at its highest since January 2012
First home buyers as a portion of owner-occupier finance
commitments (values)
29.3%
27.1%
32.6%
28.3%
23.0%
38.4%
26.7%
57.2%
30.4%
Aust
NSW
Vic
Qld
SA
WA
Tas
NT
ACT
March 2020
0%
10%
20%
30%
40%
50%
60%
Mar 15 Mar 16 Mar 17 Mar 18 Mar 19 Mar 20
NSW Vic Qld SA WA Tas

Over March, investor participation declined in every state
except South Australia, and the ACT
Investors as a portion of total value of lending (excluding refinancing)
29.7%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
NSW
26.7%
15%
20%
25%
30%
35%
40%
45%
50%
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
Vic
24.4%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
Qld
23.2%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
SA
16.6%15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Mar10
Mar12
Mar14
Mar16
Mar18
Mar20
WA
26.2% 29.7% 26.7% 24.4% 23.2%
16.6%
23.7%
14.9%
24.0%
Aust NSW Vic Qld SA WA Tas NT ACT
March 2020

The cash rate target was held at the effective lower bound
through June, with increases in the cash rate unlikely for
years to come
Source: CoreLogic, RBA© 2020 CoreLogic, Inc. All Rights Reserved.
7.25%
3.00%
4.75%
2.50%
1.50%
0.25%
0%
1%
2%
3%
4%
5%
6%
7%
8%
Jun 00 Jun 05 Jun 10 Jun 15 Jun 20
RBA Cash Rate

Average fixed loan investor rates for new lending fell a
remarkable 36 basis points from March to April
Source: CoreLogic, RBA© 2020 CoreLogic, Inc. All Rights Reserved.
Note: Data reported in the rate by product and borrower tables are based on the new RBA ‘Housing Lending Rates’ publication, based on Economic and
Financial Statistics (EFS) collection. Data is based on typical rates of new lending.
2.99%
2.75%
3.47%
2.92%
3.36%
3.12%
3.49%
3.22%
2.95%
2.34%
3.41%
2.76%
3.32%
2.76%
3.37%
3.09%
Variable
Fixed (3 years or less)
Interest-only
Principal-and-interest
Variable
Fixed (3 years or less)
Interest-only
Principal-and-interest
OwnerOccupierInvestor
Average mortgage rate by product type
Apr-20
Mar-20
2.81%
3.21%
2.5%
2.8%
3.1%
3.4%
3.7%
4.0%
Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20
Investor premium based on monthly average of new
loans
Owner Occupiers Investors
40
basis
points

Disclaimer
In compiling this publication, RP Data Pty Ltd trading as CoreLogic has relied upon information supplied by a number of external sources. CoreLogic does not warrant its accuracy or completenessand to the full extent allowed by law excludes
liability in contract, tort or otherwise, for any loss or damage sustained by subscribers, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this
publication through any cause whatsoever and limits any liability it may have to the amount paid to CoreLogic for the supply of such information.
Queensland Data
Based on or contains data provided by the State of Queensland (Department of Natural Resources and Mines) 2020. In consideration of the State permitting use of this data you acknowledge and agree that the State gives no warranty in relation
to the data (including accuracy, reliability, completeness, currency or suitability) and accepts no liability (including without limitation, liability in negligence) for any loss, damage or costs (including consequential damage) relating to any use of the
data. Data must not be used for direct marketing or be used in breach of the privacy laws.
South Australian Data
This information is based on data supplied by the South Australian Government and is published by permission. The South Australian Government does not accept any responsibility for the accuracy or completeness of the published information
or suitability for any purpose of the published information or the underlying data.
New South Wales Data
Contains property sales information provided under licence from the Land and Property Information (“LPI”). CoreLogic is authorised as a Property Sales Information provider by the LPI.
Victorian Data
The State of Victoria owns the copyright in the Property Sales Data which constitutes the basis of this report and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968
(Cth). The State of Victoria does not warrant the accuracy or completeness of the information contained in this report and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility
or liability whatsoever for any errors, faults, defects or omissions in the information supplied.
Western Australian Data
Based on information provided by and with the permission of the Western Australian Land Information Authority (2020) trading as Landgate.
Australian Capital Territory Data
The Territory Data is the property of the Australian Capital Territory. No part of it may in any form or by any means (electronic, mechanical, microcopying, photocopying, recording or otherwise) be reproduced, stored in a retrieval system or
transmitted without prior written permission. Enquiries should be directed to: Director, Customer Services ACT Planning and Land Authority GPO Box 1908 Canberra ACT 2601.
Tasmanian Data
This product incorporates data that is copyright owned by the Crown in Right of Tasmania. The data has been used in the product with the permission of the Crown in Right of Tasmania. The Crown in Right of Tasmania and its employees and
agents:
a) give no warranty regarding the data's accuracy, completeness, currency or suitability for any particular purpose; and
b) do not accept liability howsoever arising, including but not limited to negligence for any loss resulting from the use of or reliance upon the data.
Base data from the LIST © State of Tasmania http://www.thelist.tas.gov.au

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Core Logic housingmarket report updates - June 2020

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