5 resolutions for home buyers this new financial year
Getting your affairs in order
Buying a co-owner out of a property
CoreLogic National housing Update June 2018
June Market Outlook
Adelaide June 2018
Brisbane June 2018
Cairns June 2018
Canberra June 2018
Darwin June 2018
Gold Coast June 2018
Melbourne June 2018
Newcastle June 2018
Perth June 2018
Regional NSW June 2018
Regional NT June 2018
Regional QLD June 2018
Regional VIC June 2018
Sydney June 2018
Tasmania June 2018
Wollongong June 2018
CoreLogic NSW housing Update June 2018
CoreLogic QLD housing Update June 2018
CoreLogic SA housing Update June 2018
CoreLogic VIC housing Update June 2018
CoreLogic WA housing Update June 2018
Winter warmers: hot tips to heat your house for less
Preparing your home for sale
What you need to know about commercial loans
Wollongong June 2018
The month in review: Wollongong
By Herron Todd White
Halfway through the year and 2018 is shaping to be the weakest year in terms of residential property growth since at least 2012. Currently, we are experiencing much weaker conditions than we have gotten used to over the previous five years. Agents are reporting reduced demand, lower number of serious buyers attending open homes. Overall sale volumes have dropped. Over the 12 months to April 2018, CoreLogic have reported a 2.7% increase in dwelling values.
This is well down from the previous 12 months which saw a 17.4% increase.
When the market was experiencing strong growth we noticed a trend towards selling by auction as agents were struggling to set prices that were constantly increasing, the preference being to openly let competitors bid prices up.
Now with demand having dropped auctions are not nearly as successful. CoreLogic has reported weekly auction clearance rates between 38.7% to 46.4% for the first 3 completed weeks in May.
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.