Brighter And some

#5 Property headline grabbers from March

by Kate Watt, Marketing Manager 17 March 2022

Aussie residential property is now worth a whopping, record-high $9.8 trillion.

Wow. Don’t even try to count the zeros in that figure!

That’s the key call-out from a wrap of Aussie property market facts and figures CoreLogic has released for March.

Here are some others, based on data to the end of February, including a standout performance from Brissie property.

  1. The highest annual growth rate in dwelling values among the regional and capital city dwelling markets was in Brisbane at 29.7 per cent.
  2. Discounting levels – the amount sellers drop their asking price – are around record lows, reflecting strong selling conditions.
  3. In the year to February, Australian rent values increased 8.7 per cent, which was down from a recent cyclical high of 9.4 per cent in the 12 months to November.
  4. Lending for property purchases reached a new record high through January 2022 (at around $33.7 billion). This included a record $11 billion to investor purchasers.
  5. The value of Australia’s real estate markets – that’s $9.8 trillion remember – is worth more than the value of superannuation, Australian listed stocks and commercial real estate combined.

So what? In summary, Australians remain obsessed with property. Values remain solid and while many capital cities are seeing growth easing a little, Brisbane conditions remain competitive.

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