CORELOGIC: HOUSING BUST HAS NOT IMPROVED AFFORDABILITY

CoreLogic: Housing bust has not improved affordability

By Unconventional Economist in Australian Property

August 26, 2019 | 10 comments

Research analyst Cameron Kusher from Core Logic has given an interesting interview on Radio 4BC whereby he notes that despite falling dwelling values over the past year, there’s been no noticeable rise in sales under $400,000, especially across Sydney and Melbourne where there’s “virtually nothing available under $400,000”.

This comes despite the heavy price corrections experienced across these markets:

The below charts from a recent CoreLogic Property Pulse tell the story, with no material improvement in ‘affordable’ sub-$400,000 sales nationally:

Or across Sydney or Melbourne:

SOURCE: https://www.macrobusiness.com.au/2019/08/corelogic-housing-bust-not-improved-affordability/

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