Look To Lower Quartile Housing Values To Find More Affordable Housing Opportunities
While the median property value provides a useful reference point for the ‘typical’ home value in an area, buyers on a tight budget might find it more practical to narrow down their
property search by examining lower quartile values. It’s important to remember the median represents the middle point of the market; half the properties in a region will have a value that is lower than the median and half will have a value higher than the
median.
With record-high values expected across Australian dwellings in a few months’ time, 2020 will see the fastest market recovery on record with respect to the length of the downswing.
The Top Performing Suburbs Report identifies areas that have shown median value growth over the past 12 months, 3 years and 5 years, and ranks their performance. This report is available
at a national or at a state/territory level.
The 2020 Auction Market Ramps Up With 1,122 Capital City Homes Taken To Auction
Capital city auction activity ramped up after the seasonal slowdown, with 1,122 homes taken to auction this week, with volumes almost doubling on last week’s 625 auctions held. The
higher volumes over the week returned a preliminary auction clearance rate just short of 70%.
Comparing results to one year ago, when housing values were falling and auction markets were much weaker, both volumes and clearance rate are higher than what we were seeing over the
corresponding week last year, when 928 capital city homes were auctioned and just over half sold.
