by Sanjeev Sah | Feb 13, 2024 | Market Updates

Here are five highlights from CoreLogic’s latest housing chart pack. 

In the 2023 calendar year: 

1. The value of the Australian property market rose to $10.3 trillion at the end of December, after home values grew 8.1%, a “strong turnaround” from the -4.9% annual fall seen in 2022

2. Perth was the best-performing capital city market with annual growth of 15.2%.

3. The median time it took to sell a capital city home fell from 29 to 27 days. By contrast, the median selling time for regional Australian homes rose from 36 to 41 days.

4. The average vendor discount dropped from -4.4% in the December 2022 quarter to -3.7% in December 2023.

5. National rent values increased by 8.3% – only the third time in the past decade that rents have outpaced home price growth (see image).