Corelogic has released its National Housing Market Update for May 2020.
Key points:
Data to May shows that combined capital cities are about to decline
The top quartile of the Melbourne market has begun leading the downturn registering a 0.8% monthly reduction in value
Property sales volume is 40% lower than the previous month
Inner-city rental markets have seen a significant uplift in rent listings off the back of falling demand, and increased supply, amid COVID-19
By April, all markets saw an annual decline in vendor discounting. But as the market turns, vendor discounts are likely to become larger
Investor participation continues to decline. First Homebuyer participation at its highest since 2012
Should you wish to discuss this in the context of your financial situation, please do not hesitate to contact to speak to an adviser.
Download Corelogic presentation: