Housing & Economic Chart Pack
By CoreLogic RP Data

This month's chart pack has been written by the CoreLogic RP Data Research Team. Also included below is a detailed overview on the key findings covered in this month's report.

Download the full chart pack here.

Capital city home values increased by 1.3% in January, are 1.9% higher over the past three months and 8.0% higher over the past year

Home values rose over the month in all cities except Adelaide, Perth and Darwin.
With home values rising by 1.9% over the past three months, all capital cities except Darwin and Canberra recorded value rises.
Capital city home values rose in each capital city except Canberra over the 12 months to January 2015. The greatest increases were recorded in Sydney (13.0%), Melbourne (7.0%), Brisbane (4.6%) and Adelaide (3.1%). Across the remaining capital cities, values rose 2.6% in Perth, increased 3.0% in Hobart, rose by 1.4% in Darwin and fell by -0.3% in Canberra.

Sales activity across the country is slightly higher than at the same time last year but lower than its recent peak

Over the 12 months to November 2014 there were 342,813 houses and 131,408 units sold across the country.
House sales are 2.3% higher over the year compared to a -4.1% fall in unit sales.

Vendor metrics indicate quite strong housing market conditions

Auction volumes are currently very low however, clearance rates trended lower late in 2014 to sit around 60.
Discounting levels and days on market are at historic low levels.

New and total listings are lower than at the same time last year

New listings are -7.7% lower than a year ago nationally and -5.5% lower across the capital cities.
Nationally, total listings are -3.2% lower than a year ago and total listings are -5.1% lower.

Mortgage demand has eased over the Christmas / New Year period

The RP Data Mortgage Index (RMI) shows that mortgage demand has eased over the past couple of months.
ABS housing finance data shows a similar trend with the market largely driven by upgraders and investors however, their rate of growth is clearly slowing.

Economic data flows remains mixed

Population growth is winding down but remains high on an historic basis.
Dwelling approvals remain high and on an annual basis are at a record high.
With population growth slowing and building approvals remaining high (despite the recent fall) we may see a better relationship between approvals and population growth over the coming years.
Consumer sentiment has been weak since the Federal Budget and indicates pessimism continues to outweigh optimism.
The unemployment rate has levelled over recent months while full-time job creation has outpaced part-time growth.
Official interest rates were reduced by 25 basis points to 2.25% in February.