Over the 12 months to November 2018, turnover of national housing stock was recorded at 4.6%. Over the nine years shown on the chart it was the lowest turnover of stock and was down from 5.3% the previous year. Turnover has been trending lower since it was recorded at 6.3% in mid-2015.

As credit availability has continually tightened over recent years, transaction volumes in the housing market has fallen leading to a reduction in turnover.

CoreLogic’s turnover metric shows the percentage of properties that have sold on an annual basis by comparing the annual number of sales to the number of dwellings in a market. Keep in mind that this metric only includes settled sales which are subject to revision as off-the-plan properties settle over the coming years however, the revision in sales will also result in a revision in the count of dwellings so the change in both cancel each other out.

Over the 12 months to November 2018, turnover of national housing stock was recorded at 4.6%. Over the nine years shown on the chart it was the lowest turnover of stock and was down from 5.3% the previous year. Turnover has been trending lower since it was recorded at 6.3% in mid-2015.

annual turnover national
The decline in housing turnover has been much more pronounced across the combined capital cities as opposed to regional markets. 12 months ago, capital city turnover was 5.3% compared to 4.5% over the past year and across the combined regional markets it was 5.9% a year ago compared to 5.5% over the past year.

annual turnover capital cities vs regional areas
Sydney turnover over the past year was the lowest it has been over any of the past nine years due to a significant fall in property sales. Over the past year, 4.8% of Sydney housing transacted compared to 6.0% a year earlier. Turnover remains much greater in regional NSW however, it has also fallen over the past 12 months from 7.5% to 6.6%, the lowest it has been since mid-2016.

annual turnover sydney vs regional
As dwelling values and sales volumes fall in Melbourne, turnover has also slid to its lowest level any time over the past nine years. Over the 12 months to November 2018, 4.2% of housing stock transacted compared to 5.3% a year earlier. In regional Vic, turnover is actually higher this year (5.7%) than it was last year (5.6%) however, it has trended lower from 5.9% in June 2018.

annual turnover melb vs regional
In both Brisbane and regional Qld housing turnover is trending lower however, in each region turnover was lower back in 2011 than it is currently. Over the past 12 months, 4.5% of housing stock in Brisbane and 4.8% of housing stock in regional Qld has transacted. By comparison, a year earlier 5.1% of housing stock in both Brisbane and regional Qld traded hands.

annual turnover bris vs regional
Housing turnover in Adelaide has been steady over the past year recorded at 4.6% in both November 2017 and November 2018. In regional SA housing turnover has actually increased over the past year from 3.8% of stock to 4.1% of stock.

annual turnover, adelaide vs regional
The share of housing stock which turns-over each year in Perth and regional WA has been very low for a number of years. This is due to the ongoing weak economy (and housing market) which is resulting in very low sales volumes. Over the past year, 4.0% of housing stock in Perth and 3.9% of housing stock in regional WA turned-over. By comparison, a year ago turnover was greater in Perth (4.2%) but slightly lower in regional WA (3.8%).

annual turnover, perth vs regional
Dwelling values in Tasmania continue to rise however, transaction volumes (and turnover) is falling due to a lack of supply of properties listed for sale. In Hobart, turnover was recorded at 5.4% in November 2018, down from 6.1% a year earlier. In regional Tas, turnover was steady between November 2017 and 2018 at 6.3% however, it has fallen slightly over recent months.

annual turnover, hobart vs regional
Turnover of housing stock across the NT has been low for a number of years due to very low volumes of sale. Over the past year, 3.5% of housing stock in Darwin transacted compared to 3.6% a year earlier. In regional NT, 4.5% of housing stock sold over the past year compared to 4.6% a year earlier.

annual turnover, darwin vs regional
Turnover in Canberra is unchanged over the past year at 4.8%. Although the measure is the same, turnover has fallen over recent months from 5.0% in July and August of this year.

annual turnover, canberra
The data shows a clear declining trend in housing turnover across most geographies. This is being driven by a number of factors with the main factors: worsening affordability (particularly in Sydney and Melbourne) and the ongoing tightening of credit conditions. While affordability and credit conditions have worsened, the volume of stock for sale has actually increased with ample stock for sale to encourage turnover but credit access is crimping turnover. With credit conditions expected to remain tight over the coming months, the expectation is for fewer sales transactions and an ongoing fall in housing turnover.

Best Regards

 

Linda 姬琳达珍 and Carlos Debello (LREA)

琳达姬琳达珍Debello LREA – LJ Gilland Real Estate Pty Ltd

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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