The latest CoreLogic data has revealed the strongest monthly growth since November 2021.
CoreLogic’s national Home Value Index (HVI) has recorded a third consecutive monthly rise, with the pace of growth accelerating sharply to 1.2% in May.
After finding a floor in February, home values increased 0.6% and 0.5% through March and April respectively.
Though Sydney continues to lead the recovery trend, Brisbane is the only other capital to record a monthly gain of more than 1%.
Change in Values - Brisbane
| Monthly Change | Quarterly Change | Annual Change |
| 1.4% | 1.8% | -9.3% |
Source: CoreLogic
CoreLogic’s Research Director, Tim Lawless, noted the positive trend is a symptom of persistently low levels of available housing supply running up against rising housing demand.
“Advertised listings trended lower through May with roughly 1,800 fewer capital city homes advertised for sale relative to the end of April.
Inventory levels [across the country] are -15.3% lower than they were at the same time last year and -24.4% below the previous five-year average for this time of year,” he said.
“With such a short supply of available housing stock, buyers are becoming more competitive and there’s an element of FOMO creeping into the market.
Amid increased competition, auction clearance rates have trended higher, holding at 70% or above over the past three weeks. For private treaty sales, homes are selling faster and with less vendor discounting.”
The latest statistics from the Place group reflect the same positive trajectory.
Just recently, Place Estate Agents held THE DAY where 80 properties went under the hammer. The 14-day adjusted clearance rate from the day was 81% with an average of 4 registered bidders per Auction.
It's safe to sell in this market, so if you're considering selling, request an appraisal here.
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