According to Propertyupdate.com, home lending fell sharply over July with the rate of decline accelerating.
The ABS reports that the value of home loans seasonally adjusted (excluding land and alterations and additions) decreased by 8.8% over July compared to the previous month to be 14.3% lower than reported over July 2021.
Home lending over the first seven months of 2022 however remains 2.3% higher than recorded over the same period last year. The July decline in home lending is now the steepest monthly fall reported since covid lockdowns quelled activity in May 2020.
At the meantime, Australia rental house market is still heated. Similar to houses, unit rents have increased sharply over the past year in all capitals, with Melbourne now the top performer higher by 16.2% followed by Sydney up 15.8%.
Last week’s Sydney auction clearance rate was 60%, which 3% higher than the previous week’s Sydney auction clearance. There were 653 properties listed for sale, 240 properties were sold, and 109 properties were withdrawn. Moreoever, the total clearance rate for state of New South Wale last week was 50%.
According to Realestate.com.au, it was reported 1370 private sales in New South Wales over last week. 203 properties were sold at auction, while 185 were sold prior to auction.
Last Saturday Sydney Auction Top5 House
▼TOP 1. AUD$4,600,000
Address: 16 Victoria St, Strathfield NSW 2135
Land Size: 696 sqm
Internal Area: 620 sqm
House | 6 Bed | 5 Bath | 5 Parking
▼TOP 2. AUD$4,400,000
Address: 245 Carrington Road, Coogee, NSW 2034
Internal Area: 382 sqm
House | 6 Bed | 3 Bath | 3 Parking
▼TOP 3. AUD$4,200,000
Address: 34 Day Av, Kensington NSW 2033
Internal Area: 620 sqm
House | 4 Bed | 2 Bath | 2 Parking
▼TOP 4. AUD$3,769,000
Address: 6 Clifford St, Gordon NSW 2072
Land Size: 851 sqm
Internal Area: 217 sqm
House | 4 Bed | 3 Bath | 2 Parking
▼TOP 5. AUD$3,430,000
Address: 7A Bundabah Av, St Ives NSW 2075
Land Size: 1497 sqm
House | 6 Bed | 3 Bath | – Parking
Last Saturday Sydney Auction Top5 Unit
▼TOP 1. AUD$5,050,000
Address: 2 Ocean St, Woollahra NSW 2025
Terrace | 4 Bed | 4 Bath | 1 Parking
▼TOP 2. AUD$3,060,000
Address: 4B/26 Ross St, Waverton NSW 2060
Unit | 3 Bed | 2 Bath | 2 Parking
▼TOP 3. AUD$3,000,000
Address: 7.43/517-527 Elizabeth St, Surry Hills NSW 2010
Unit | 3 Bed | 2 Bath | 1 Parking
▼TOP 4. AUD$2,400,000
Address: 3/139-153 Middle Head Rd, Mosman NSW 2088
Unit | 3 Bed | 2 Bath | 3 Parking
▼TOP 5. AUD$2,220,000
Address: 9/15 Old Barrenjoey Rd, Avalon Beach NSW
Unit | 2 Bed | 2 Bath | 2 Parking
Reference:
“Unit Rents Continue to Outperform Houses in August.” Property Update, 1 Sept. 2022, propertyupdate.com.au/unit-rents-continue-to-outperform-houses-in-august/. Accessed 5 Sept. 2022.