stockhead.com.au Open in urlscan Pro
141.193.213.21  Public Scan

Submitted URL: https://stockhead.cmail20.com/t/d-l-vurlkud-tjhhtdhdid-m/
Effective URL: https://stockhead.com.au/news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/?utm_s...
Submission: On January 03 via api from OM — Scanned from DE

Form analysis 5 forms found in the DOM

GET /

<form role="search" method="get" class="search-form" action="/">
  <input type="search" class="search-field" placeholder="What are you looking for?" value="" name="s" id="searchfield">
  <button></button>
</form>

POST /news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/

<form method="post" enctype="multipart/form-data" target="gform_ajax_frame_2" id="gform_2" action="/news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/" data-formid="2" novalidate="">
  <div class="gform-body gform_body">
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        <div class="ginput_container ginput_container_text"><input name="input_1" id="input_2_1" type="text" value="" class="medium" placeholder="Name" aria-required="true" aria-invalid="false"> </div>
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        <div class="admin-hidden-markup"><i class="gform-icon gform-icon--hidden"></i><span>Hidden</span></div>
        <legend class="gfield_label gform-field-label gfield_label_before_complex">Email Lists</legend>
        <div class="ginput_container ginput_container_checkbox">
          <div class="gfield_checkbox" id="input_2_5">
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            <div class="gchoice gchoice_2_5_2">
              <input class="gfield-choice-input" name="input_5.2" type="checkbox" value="Lunch Update" checked="checked" id="choice_2_5_2">
              <label for="choice_2_5_2" id="label_2_5_2" class="gform-field-label gform-field-label--type-inline">Lunch Update</label>
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            <div class="gchoice gchoice_2_5_3">
              <input class="gfield-choice-input" name="input_5.3" type="checkbox" value="Market Close Update" checked="checked" id="choice_2_5_3">
              <label for="choice_2_5_3" id="label_2_5_3" class="gform-field-label gform-field-label--type-inline">Market Close Update</label>
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            <div class="gchoice gchoice_2_5_4">
              <input class="gfield-choice-input" name="input_5.4" type="checkbox" value="Weekend Update" checked="checked" id="choice_2_5_4">
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  <div class="gform_footer top_label"> <input type="submit" id="gform_submit_button_2" class="gform_button button" value="Submit"
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    <input type="hidden" name="gform_field_values" value="">
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</form>

POST /news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/

<form method="post" enctype="multipart/form-data" target="gform_ajax_frame_1" id="gform_1" action="/news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/" data-formid="1" novalidate="">
  <div class="gform-body gform_body">
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        <div class="ginput_container ginput_container_text"><input name="input_3" id="input_1_3" type="text" value="" class="medium" placeholder="Name" aria-invalid="false"> </div>
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      <div id="field_1_2" class="gfield gfield--type-email gfield_contains_required field_sublabel_below gfield--no-description field_description_below hidden_label gfield_visibility_visible" data-js-reload="field_1_2"><label
          class="gfield_label gform-field-label" for="input_1_2">Email<span class="gfield_required"><span class="gfield_required gfield_required_asterisk">*</span></span></label>
        <div class="ginput_container ginput_container_email">
          <input name="input_2" id="input_1_2" type="email" value="" class="medium" placeholder="Email" aria-required="true" aria-invalid="false">
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      <div id="field_1_4" class="gfield gfield--type-html gfield_html gfield_html_formatted gfield_no_follows_desc field_sublabel_below gfield--no-description field_description_below gfield_visibility_visible" data-js-reload="field_1_4">It's free.
        Unsubscribe whenever your want.</div>
      <div id="field_1_8" class="gfield gfield--type-hidden gform_hidden field_sublabel_below gfield--no-description field_description_below gfield_visibility_visible" data-js-reload="field_1_8">
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        <legend class="gfield_label gform-field-label gfield_label_before_complex">Email Lists</legend>
        <div class="ginput_container ginput_container_checkbox">
          <div class="gfield_checkbox" id="input_1_11">
            <div class="gchoice gchoice_1_11_1">
              <input class="gfield-choice-input" name="input_11.1" type="checkbox" value="Morning Update" checked="checked" id="choice_1_11_1">
              <label for="choice_1_11_1" id="label_1_11_1" class="gform-field-label gform-field-label--type-inline">Morning Update</label>
            </div>
            <div class="gchoice gchoice_1_11_2">
              <input class="gfield-choice-input" name="input_11.2" type="checkbox" value="Lunch Update" checked="checked" id="choice_1_11_2">
              <label for="choice_1_11_2" id="label_1_11_2" class="gform-field-label gform-field-label--type-inline">Lunch Update</label>
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            <div class="gchoice gchoice_1_11_3">
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              <label for="choice_1_11_3" id="label_1_11_3" class="gform-field-label gform-field-label--type-inline">Market Close Update</label>
            </div>
            <div class="gchoice gchoice_1_11_4">
              <input class="gfield-choice-input" name="input_11.4" type="checkbox" value="Weekend Update" checked="checked" id="choice_1_11_4">
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      <div id="field_1_6" class="gfield gfield--type-captcha field_sublabel_below gfield--no-description field_description_below hidden_label gfield_visibility_visible" data-js-reload="field_1_6"><label
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        <div id="input_1_6" class="ginput_container ginput_recaptcha gform-initialized" data-sitekey="6Ldq2_oUAAAAAO1Bh8BKYe5bNwVNi5XDQoPVY44f" data-theme="light" data-tabindex="-1" data-size="invisible" data-badge="bottomright">
          <div class="grecaptcha-badge" data-style="none"
            style="width: 256px; height: 60px; position: fixed; visibility: hidden; display: block; transition: right 0.3s ease 0s; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;">
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      <div id="field_1_12" class="gfield gfield--type-honeypot gform_validation_container field_sublabel_below gfield--has-description field_description_below gfield_visibility_visible" data-js-reload="field_1_12"><label
          class="gfield_label gform-field-label" for="input_1_12">Email</label>
        <div class="ginput_container"><input name="input_12" id="input_1_12" type="text" value="" autocomplete="new-password"></div>
        <div class="gfield_description" id="gfield_description_1_12">This field is for validation purposes and should be left unchanged.</div>
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  <div class="gform_footer top_label"> <input type="submit" id="gform_submit_button_1" class="gform_button button" value="Subscribe"
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    <input type="hidden" name="gform_field_values" value="">
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</form>

POST /news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/

<form method="post" enctype="multipart/form-data" target="gform_ajax_frame_3" id="gform_3" action="/news/smaller-capitals-stole-biggest-gains-as-silly-aussie-home-prices-made-a-splash-in-23/" data-formid="3" novalidate="">
  <div class="gform-body gform_body">
    <div id="gform_fields_3" class="gform_fields top_label form_sublabel_below description_below">
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          class="gfield_label gform-field-label" for="input_3_1">Name<span class="gfield_required"><span class="gfield_required gfield_required_asterisk">*</span></span></label>
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News

She'll be fine. Via Getty


SMALLER CAPITALS STOLE BIGGEST GAINS AS SILLY AUSSIE HOME PRICES MADE A SPLASH
IN ’23

News

January 2, 2024 | Christian Edwards



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Breaking news. A meek end to the year hasn’t been able to stop Aussie home
prices surging by a median 8.1% last year.

But there’s been a few surprises in the final tale of the tape, according to
CoreLogic’s research director Tim Lawless with the itty-bitty capitals
outscoring their punchier, more favoured and familiar heavyweights.

Moreover, Corelogic’s latest housing report forecasts that an obstinately high
cost of cash will more than likely keep any truly stupido rising property prices
in relative containment.
 


STATES OF PLAY: HOME VALUES AS WE START THE NEW YEAR



Via CoreLogic
 




ALL UP, BUT NOT ONE FOR ALL

All up, Aussie property prices continued to rise over the last weird and wild 12
months, but Tim says five of the eight Aussie capitals are still clocking in
with home values below their record highs.

One might recall that cracking COVID-19 pandemic (see, Covid, 19, 2021) wherein
Australian property prices soared by 25%.

So, according to CoreLogic’s shiny newest national Home Value Index (HVI),
prices rose 8.1% last year, a decent turnaround from the all too crappy -4.9%
drop of 2022.

Though, let us recall that one was in comparison to the +24.5% surge recorded in
said 2021.

December’s 0.4% increase saw 2023 finish with splutter rather than a pop in
monthly home values, Lawless laments.

Last month saw Aussie’s smallest increase in property prices, which The Lawless
One puts down to the crunch of living pressures driven by interest rate hikes
and inflation.

“This was the smallest gain in our national monthly HVI since values started
rising in February,” says Lawless.

“After monthly growth in home values peaked in May at 1.3%, a rate hike in June
and another in November, along with persistent cost of living pressures,
worsening affordability challenges, rising advertised stock levels and low
consumer sentiment, have progressively taken some heat out of the market through
the second half of the year.”

It was a silly year in so many silly ways, but property perhaps touched peak
silliness, with record migration and stupido-tight rental markets.

Despite the annual 8.1% increase, the year was ‘punctuated by diversity’ says
Tim, with the annual change in housing values ranging from a preposterous +15.2%
surge in the Faraway Downs of Perth to a Wake in Fright -1.6% fall across
regional Victoria.
 


BEAUTIFUL ONE DAY, MELBOURNE THE NEXT

One of the main trends through the year has been the widening disparity in the
rate of home value growth across the capital cities.

Dwelling values have been rising at more than 1% each month on average across
Perth, Adelaide and Brisbane since May, while in Melbourne and Sydney the pace
of growth has slowed sharply since the June rate hike.

Melbourne home values tottered and fell through November and December while
Sydney home values steadied with a monthly growth rate of just 0.2% in the final
two months of the year.

The smaller capital cities have been soft-as through most of the year, with wee
willy wonkle’s Hobart down a boring -0.8% and Darwin not really bothering the
scorers (-0.1%) both recording an annual decline in values in 2023.

The ACT, home of so very little, recorded a rise of just 0.5%.
 


ROLLING THREE-MONTH CHANGE IN DWELLING VALUES: STATE CAPITALS



 

“Such diversity across the capital cities can be broadly attributed to factors
relating to demand and supply,” Mr Lawless said.

“In Perth, Adelaide and Brisbane, housing affordability challenges haven’t been
as pressing relative to the larger cities, and advertised supply levels have
remained persistently and substantially below average. The cities where home
value growth has been lower or negative through the year are showing higher than
average levels of advertised supply alongside annual home sales which ended the
year below the five year average.”
 


TOWN AND COUNTRY

Last year Australia’s capital city prices generally whacked their regional
counterparts in the money game.

Across the combined capital cities index, dwelling values were up 9.3% in 2023,
more than double the 4.4% rise recorded across the combined regional index.

“Stronger conditions across capital city markets is a reversal of the early
COVID trend which saw regional markets experience higher demand amid strong
internal migration. Regional migration trends have mostly normalised through
2023, and the significant capital gains recorded through 2020 to 2022 has meant
many regional markets have become less affordable,” Lawless says.

Although housing values have risen across most regions in 2023, five of the
eight capitals are still recording home values below record highs.

At the end of 2023:

Sydney values remained -2.1% below their January 2022 peak.

Melbourne values were -4.1% below their March 2022 peak

ACT values are still -6.3% below record highs and Hobart values are down -11.2%.

Darwin home values are -2.8% below their cyclical high in August last year, and
-7.2% below the record high set back in May 2014.
 


AUSSIE HOUSING VALUES ACROSS THE RECENT SILLINESS



Let’s not forget it coulda been worse.

So here’s where it was worst – via CoreLogic’s suburb by suburb take published
late last month:
 


HELLO GREATER HOBART. ДО СВИДАНИЯ (DASVIDANIYA) DARWIN





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