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[BUSINESS] · Australia, United Kingdom · 2 sources

Part of situation: Global residential real estate market trends (2 clusters)

Regional property markets outperform cities in Australia and UK

property market real estate prices interest rates housing affordability regional growth

In Australia, regional property values have outperformed capital cities over the past year. According to a CoreLogic report, regional dwelling values rose by 5.6 per cent in the year leading to September, while capital city values fell by 1.8 per cent. This divergence is driven by declines in major eastern metropolitan areas like Sydney and Melbourne, despite gains in cities such as Perth and Darwin.

Market activity has slowed significantly, with house sales in September dropping 20.9 per cent compared to the previous year. CoreLogic research director Tim Lawless attributed the downward trend to sustained interest rates, which have reduced borrowing capacity and made buyers hesitant. Additionally, sellers are increasingly reluctant to list properties to avoid unsuccessful sales, leading to longer periods on the market.

In the United Kingdom, a similar regional divergence is occurring. Northern regions, including Scotland and Northern Ireland, are showing stronger price growth and higher buyer success rates compared to the South. For instance, Northern Ireland recorded 5.9 per cent growth in Q3, while London faces significant affordability constraints, with only 42 per cent of properties finding buyers and a high percentage of homes remaining unsold after three months.

Entities

CoreLogic · Nationwide · Rightmove · Tim Lawless · Zoopla

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Regional home prices holding up as city slickers suffer [www.dubbophotonews.com.au]
Regional home prices holding up as city slickers suffer [www.orangecitylife.com.au]