Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Wednesday, 27 July 2016

CoreLogic market update

CoreLogic's weekly figures showed that dwelling prices continue to rise nationally.

Year-to-date dwelling prices have increased by 6 per cent according the capital city index (the Queensland figures below incorporate Brisbane and Gold Coast). 


Source: CoreLogic

New stock listings have tightened recently, with the number of new listings considerably lower than 12 months ago. 


The mortgage index rolling three month trend is solid.


With low stock levels in Sydney's preliminary auction clearance rates - while struggling in some outer suburban areas - are absolutely flying in the inner west (93.9 per cent), eastern suburbs (92.9 per cent), and northern beaches (90.9 per cent).

In the words of Blackadder's dogsbody Baldrick: "Boom, boom, boom".

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Potentially the most important data release in months is due out at 11.30am, being the inflation figures for the June quarter. 

After the preceding quarter's negative result another soft print could trigger further interest rate cuts. 

As a general rule of thumb if the quarterly underlying result is below 0.5 per cent, stand by for further monetary easing in 2016.