Regional Markets Over the Past Quarter

Regional markets, where housing values have generally been more resilient to falls in comparison to their capital city counterparts, are now seeing more challenging conditions.

While Western Australia has been the only state region to see decline over the past twelve months, September has seen values fall across regional areas of New South Wales, Victoria, Queensland and South Australia as well.

Housing market conditions have slowed and credit is less available, resulting in buying numbers in these areas to have thinned out.

CoreLogic estimates of settles sales have decreased by 10% year on year nationally. While previously strong markets, such as Sydney and Melbourne have seen the number of settled sales decrease more substantially by 19% and 16% respectively.