Greetings from Scoutable and welcome to our first newsletter of the year. We hope you had a great holiday season and wish you the very best for 2022.

The property market usually (unofficially) kicks off after Australia Day. However, as with 2021, with many not travelling over summer, open home inspections commenced earlier this year, starting in the first week of January.

Last Saturday was the first major weekend of auctions for 2022. Nationally, there was a total of 1,160 properties scheduled for auction, up from 884 properties the same week last year. CoreLogic recorded the preliminary auction clearance rate as 74.1%, in comparison to 77.2% the same week last year.

CoreLogic’s January home value index shows Australian housing values have risen 1.1% over the month. As January is generally a quiet period in the property market, it will be interesting to note the market movements as we head further into 2022.

CoreLogic’s Research Director, Tim Lawless commented, “The early indication is that housing markets are starting 2022 with a similar trend to what we saw through late last year. Values are still broadly rising, but nowhere near as fast as they were in early 2021. A softening in growth conditions has been influenced by less government stimulus, worsening affordability, rising fixed term mortgage rates and, more recently, a slight tightening in credit conditions, and a surge in new listings through the final quarter of last year.”

If you would like to discuss the current market conditions in more detail or are looking to buy property, please get in touch to learn about Scoutable's services and how we can assist with your property search.

Until next month,

Kellie Landrey | Principal Buyers Agent