January Housing Market Update

January can be a hard month to read the market due to low levels of activity. However, the recent trends in the housing market data has generally weakened over the past 3 months; with the pace of decline accelerating across the markets already in their down phase and growth generally moderating in other areas.

Tight credit conditions weakened consumer sentiment, less domestic and foreign investment and higher levels of housing supply across Australia are primary drivers of these worsening conditions.

However, Brisbane has remained to hold an absolutely flat housing market over the past 12 months with a 0.1% gain in house values offsetting the half percent decline in unit values.