# WILSON WEEKLY Ep 142 | Home Auction Markets Resume at Full Pace Following Holiday Pause

An episode of [Money Mentor Podcast™](https://invisiblenetwork.ai/podcast/1632604767), 23 Oct 2025, 34 min.

Audio: https://episode.flightcast.com/oe0recnlabnbvysvvrx9i0np.mp3

In this week’s episode, Dr. Andrew Wilson and Rachael Howlett explore how to read the real-time data driving Australia’s property market. From filtering suburb level insights in the My Housing Market x Infinity app to analysing rental yields and return-on-investment trends, this episode gives listeners the tools to think like an economist. The pair also tease next week’s deep dive on inflation and the RBA’s highly anticipated Melbourne Cup Day rate decision and what it could mean for homeowners heading into 2026. Discover our new tool: What's My Rental Home Yield? Money Mentor YouTube Channel: @moneymentorau Link to Dr. Andrew Wilson on LinkedIn: / dr-andrew. If you enjoyed our podcast, make sure you follow and subscribe to stay up to date with the latest episodes.

## Transcript

[0:00] Welcome back to another episode of Wilson Weekly on the Money Mentor podcast, where the data's hotter than a super Saturday auction.
[0:08] Dr. Andrew Wilson here to decode this week's moves in the labour market, construction costs and those ever resilient auction clearance rates.
[0:16] Because when the property market is throwing curveballs, we bring in the man who hits them out of the park.
[0:24] Hi, Rachel.
[0:25] Yeah.
[0:26] No, big news this week, of course, well, we had the unemployment data last week.
[0:32] And this has come, you know, right at a very important time in terms of interest rates, because we're fast closing in on the Melbourne Cup.
[0:43] RBA meeting, you know, will they cut, will they not?
[0:47] And that's all become a little problematic for the RBA recently, you know, with inflation picking up.
[0:52] And now the other end of the pineapple is that the unemployment rate is rising.
[0:57] So what does that mean for interest rates?
[1:00] Next week we will have the latest, as usual here, inflation data, and that really does set the scene for what's going to happen at that Reserve Bank meeting.
[1:09] Will we get another interest rate cut?
[1:12] Or will the Reserve Bank decide to keep its powder dry?
[1:16] But it's been a big week in property data and, of course, another big week in auction activity.
[1:23] And this is a very big week, really, over the year for auction activity, Rachel.
[1:29] Of course, this Saturday will be the second Super Saturday of auctions for spring.
[1:35] And we're likely to have a record number of properties going under the hammer, as usually we do.
[1:40] The reason we have a Super Saturday is because it's the week before in Melbourne, the Melbourne Cup long weekend.
[1:48] And most markets have a bit of a break over that particular weekend, not just the Melbourne market that has the holiday.
[1:56] And so therefore, to compensate, agents and vendors bring forward a lot of activity because they don't want the distractions of Cup Week.
[2:05] So the week before the Cup, we have this big number of auctions.
[2:10] So plenty of choices for buyers out there, plenty of competition for sellers.
[2:15] And the interesting thing is just how strong this market has been.
[2:18] It certainly doesn't matter.
[2:19] It seems not to matter just how many properties go up for auction.
[2:23] There's a buyer just waiting, maybe more than one buyer waiting.
[2:27] Well, they're going to have one buyer, but plenty of bidders, and that's pushing those clearance rates through the roof.
[2:33] So very strong market.
[2:35] And just as a bit of a segue to that, we'll also next week have, well, the week after next, we'll have the latest...
[2:43] data in terms of home prices for October.
[2:47] And here's a hint.
[2:48] Gee whiz, is that going to be a big number?
[2:51] Early days are certainly looking very, very strong for home price growth over October.
[2:57] So we shouldn't be surprised.
[2:58] given how strong those clearance rates have been.
[3:01] I don't want to give it all away because we've got 30 minutes to give it all away.
[3:06] So let's start giving it all away now.
[3:09] So if we can get our slide deck up, we can start rocking through all the data.
[3:14] There it is.
[3:15] My housing market is my brand.
[3:16] I act as an independent commentator.
[3:18] and data provider on the housing market.
[3:21] And it's all about the current state and future prospects of your housing market.
[3:24] Every week we bring you our podcast, Rachel and I, in conjunction with the good folks at Infinity.
[3:30] That's all about the latest activity, the latest insights into the housing market over the past week.
[3:36] We want everybody out there to be able to make informed decisions in regard to property and everything we present here
[3:43] is evidence-based.
[3:44] So this is a clickbait-free zone because you don't want clickbait if you're making the most important decision, well, one of the most important decisions of your life.
[3:53] So shall we get rolling, Rachel?
[3:55] Let's do it.
[3:57] Yeah, week ending Wednesday, October the 22nd.
[4:00] I think we say this, we'll be saying this every week for the last couple of weeks.
[4:04] Have you done your Christmas shopping yet because it's fast closing in or are you waiting for Black Friday?
[4:12] to do all your shopping, which is also closing in.
[4:16] So the week ending Wednesday, October the 22nd.
[4:19] We are now past the midpoint of the spring selling season.
[4:22] This is where we do have bumper numbers of auctions going under the hammer every week.
[4:28] It's a great time for choice.
[4:30] for buyers and there are plenty of buyers around so it's a great time for sellers as well.
[4:36] And let's remember that most sellers are buyers and most buyers are sellers going forward.
[4:42] And of course, we have all those extra first home buyers in the market now seeking out property.
[4:47] So it's really a very strong market environment.
[4:52] Lots of property going up for sale, up for sale.
[4:56] and lots of property actually selling as well.
[4:59] So we're going to look at the September labour market data.
[5:02] A few surprises there and very interesting, as I said, as a prelude to the interest rate decision from the Reserve Bank in fortnight.
[5:12] The latest house building costs, perhaps some relief there for those wanting to build a house or thinking of building a house in terms of costs.
[5:20] Rachel, let me tell you, those costs are still high.
[5:22] It's not as though they're falling.
[5:24] They're still rising, but not rising as much as they were.
[5:29] And as we've previewed already to some degree, the latest weekly auction results.
[5:35] So let's get started.
[5:36] The labour market's easing.
[5:38] Yeah, there was a lot of headlines this week.
[5:41] Shock, doom, gloom, all the usual stuff.
[5:44] Lots of clickbait out there, you know, about the sky is falling, the unemployment rate increased.
[5:51] It increased to the highest point this cycle.
[5:54] So it's the highest unemployment rate we've had since back in the COVID days.
[5:59] What does this all mean?
[6:01] And is it really bad news?
[6:03] Or is it just slightly interesting news?
[6:06] Well, let's have a look.
[6:08] The September jobless rate rose to 4.5%.
[6:12] That's the highest unemployment rate we've had for some time.
[6:15] That was up from a revised August figure of 4.3%.
[6:20] But this is here, and of course, you look at that rate, and you go, gee whiz, here we go.
[6:23] Unemployment's rising.
[6:25] You know, the Reserve Bank, will they cut rates because they're worried about the unemployment rate, you know, how the economy is performing, even though inflation is starting to rise again?
[6:35] Does this give them a bit of a get out of jail card to cut rates because they're now concerned about the labour market?
[6:41] Or what does it really mean?
[6:43] So the number of jobs actually increased over the month.
[6:47] Rachel, up by 14,900.
[6:49] And if we remember last month, job numbers actually fell.
[6:54] So we've got job numbers rising and yet we've got a higher unemployment rate.
[6:58] That's because the number of people unemployed increased by 33,900.
[7:03] So even though jobs were up, the unemployed number was up more and that meant that the unemployment rate increased.
[7:13] But the interesting thing here is to look, well, why did this happen?
[7:16] And the ABS has given a couple of insights into this number.
[7:21] First is they said that there was some clear issues to do with the seasonal adjustment because this data is seasonally adjusted.
[7:30] So it's adjusted seasonally and that they're still having a transition period with their seasonal adjustment modelling.
[7:36] So let's just take this.
[7:38] from the notice of the ABS with a little grain of salt.
[7:45] It might be just some seasonal adjustment methodology that has meant a higher rate.
[7:51] Now, the other point to note, Rachel, is that the participation rate actually increased.
[7:58] So the participation rate measures the proportion of the population over the age of 15 that are in the workforce.
[8:07] Now, that actually increased.
[8:08] So what happened was there was actually a surge in people coming into the workforce.
[8:14] That's why we had this big increase in the unemployment numbers because we had so many people coming into the workforce over the month that we couldn't all find jobs for them.
[8:25] So a lot of that higher unemployment rate was also due to an increase in the actual workforce.
[8:34] So the participation rate put upward pressure on the unemployment rate.
[8:40] And let's remember that participation rate is at near record highs.
[8:44] So it's a very big number.
[8:46] So people are still confident enough to be trying to look for a job or get into the workforce, seek a job in this what is still clearly a strong economic environment.
[8:57] So question marks over the seasonal adjustment modelling.
[9:02] And also, you know, we've got to note that there was a big increase in the workforce going forward.
[9:10] I think that when we put that in context, and then we'll look at the historical nature of the data shortly, it's, yeah, okay, we need to wait for a couple more months just to see if we are getting the start of a longer-term shakeout.
[9:26] But having said all that, Rachel, we have been in the territory of very, very low unemployment rates for years now.
[9:34] There is a thing called the business cycle, and it's called a cycle for a reason, because it goes up.
[9:40] and then it goes down, and then it goes up again, right?
[9:43] So we've really been waiting for an easing of the business cycle, given just how strong that business cycle has been since the breakout of the post-COVID period.
[9:56] So, yeah, okay, well, so we might start to see numbers in the mid-fours rather than the mid-threes, which was historically low unemployment rates.
[10:05] But that still means that 96% of the population have got jobs.
[10:10] And as I said, in the historical context, that is a very strong labour market.
[10:17] So let's have a look at the historical context, right?
[10:20] So there we are, 4.5%.
[10:22] We're up from 4% over the year before.
[10:25] But when we look over the past 20, 30 years,
[10:29] And we have to, when we go back to the very strong Australian economy during the oughties, that is the zero to 2010, do we call that the oughties or the noughties or whatever?
[10:41] I think it's the noughties, yeah.
[10:43] The noughties?
[10:43] Well, I have to be careful saying that.
[10:47] When we go back there, we can see that during one of Australia's strongest economic periods, the unemployment rate was 4%.
[10:55] That's as low as it got during that period, which isn't that far below where we are now.
[11:01] It's certainly not far below where we've been.
[11:04] In fact, it's higher than where we were all of last year and the year before.
[11:08] And even in that second mining boom that Australia had in 2011-12, our unemployment rate, despite very strong economic conditions, the lowest it got to was 4.9%.
[11:21] And you can see from there, most of the time it was in the fives up to the sixes.
[11:26] So 4.5%, Rachel, is still a very low number in context.
[11:32] And as I said, we can take this also to be affected by some issues with the seasonal adjustment and also a big increase in the participation rate.
[11:43] So,
[11:45] We need to wait for a few more numbers to come through before we start really thinking that this is a significant shakeout in the labour market, which it certainly is not.
[11:56] And let's also remember that having before joked about, hey, have you done your Christmas shopping?
[12:02] There will be a lot of Christmas shopping happening over the ninth month or two.
[12:05] We do have Black Friday coming up.
[12:08] This is a very busy time in Australia's economy, particularly in retail.
[12:13] And that means a lot of hiring going on, which will even in regard to the usual seasonal adjustment factors, will still mean, you know, likely a lower unemployment rate rather than a higher unemployment rate.
[12:28] Given how strong house price growth has been, people are feeling good about themselves.
[12:35] The wealth effect is clearly there.
[12:37] And even the share market, Rachel, has picked up strongly
[12:41] over the past month or two.
[12:43] So there's plenty of positives there, plenty of incentives out there for people to, as usual, spend through October into November and December, which will only increase demand for labour, particularly retail labour.
[12:58] So as I said, you know, don't be surprised if we start to see that unemployment rate pull back again, down into the low force rather than
[13:09] the mid-four.
[13:09] So I hope that sort of puts it all in context for everybody.
[13:13] So please ignore the clickbait, but it will be interesting to see how the Reserve Bank responds to this.
[13:22] Hopefully they won't get sucked into the doom and gloom over this latest data because maybe they might have got sucked in a little bit to the inflation data earlier in the year.
[13:33] But homeowners don't care that much because it's put tens of thousands of dollars down.
[13:38] into their pockets in terms of higher house prices.
[13:41] So as I mentioned, the participation rate is still tracking at near record high levels.
[13:48] As I said, that measures the proportion of the population over the age of 15 that is in the workforce.
[13:55] We had a surge over the month.
[13:57] That meant there were more people coming in looking for work.
[14:00] And that of course was part of the reason why
[14:02] we had higher numbers of unemployed because there are so many more people looking for work.
[14:08] And you can see there it's well ahead of that period, that strong economic period that we discussed before, back in the noughties, the aughties.
[14:17] I've got to get that right.
[14:19] So how good is that?
[14:21] We've got a higher proportion of the over-15s in the workforce and we've got a similarly low unemployment rate.
[14:28] All good.
[14:29] Here's the state situations, comparisons.
[14:35] No surprise with, of course, the national number going up.
[14:38] Most of the states are tracking higher.
[14:40] In fact, all of them are tracking higher than where they were a year ago.
[14:44] But our old favourite, well, it seems everybody's favourite, Queensland for everything, is the lowest, 4.2%.
[14:51] So, and only up 0.1% over the past year.
[14:55] So, the Queensland economy, just like Queensland housing markets,
[15:00] just keeps on keeping on, Rachel.
[15:03] But as I said, it'll be interesting to see how the next few months go, particularly given it's such a strong period for economic activity.
[15:11] Yeah, well, Doc, I've got a bit of a two-parter question for you.
[15:13] I do think you've probably answered maybe my first one a little bit, but I want to get your take.
[15:18] Do you think this suggests the economy is cooling just enough to please the RBA?
[15:23] Are we in that awkward in-between phase where the job market's just refusing to slow down?
[15:28] And what is keeping Queensland so resilient?
[15:30] Yeah.
[15:31] Well, I think the RBA has sort of ignored the labour market because it's been like it's strong.
[15:37] So we can forget about the labour market because it does have a dual focus, the labour market.
[15:42] It's supposed to keep the economy at full employment.
[15:45] And basically that's what it's been doing.
[15:48] So rather than it overheating, it's saying, OK, well, that's going OK.
[15:52] But the overheating factor has been with inflation.
[15:55] Now, it's been focusing on inflation since we had that big inflation outbreak in the post-COVID period.
[16:02] We sort of thought we had inflation under control.
[16:05] But has this been a bit of a premature calling of the inflation outcome by the Reserve Bank?
[16:11] Have they gone a little bit early, Rachel?
[16:14] Well, we're going to get that data next week and you will be the first to hear that inflation data next week.
[16:21] But I think that they'd be comfortable still with where the unemployment rate is.
[16:27] But now it's going to start to maybe be more of their focus on what's happening in the labour market.
[16:33] So obviously, if the labour market continues to weaken the unemployment rate,
[16:39] And if inflation is under control, then it would start to think, well, maybe we need some interest rate cuts just to get the labour market ticking over.
[16:49] So it's that sort of conflict, that tension between inflation going up and the unemployment rate going up, which will focus the RBA's mind when it meets on interest rates.
[17:01] But I do think we're going to have to see...
[17:04] a more consistent decline in the labour market, a consistent rise in the unemployment rate into the fives before the Reserve Bank started to think, hmm, hey, maybe we need to cut interest rates.
[17:18] And, of course...
[17:21] If inflation continues to rise, that gives them a problem because lower interest rates will only typically act to increase inflation.
[17:31] But it's not really that.
[17:33] It's particularly high electricity costs that are generating inflation at the moment.
[17:38] And there's not much you can do about that.
[17:41] I'm not sure how higher interest rates would quell higher electricity costs, you know.
[17:49] So it's a bit of a vexed scenario.
[17:52] But Queensland, how can we be surprised about Queensland?
[17:56] I mean, everything's just gung-ho.
[17:59] It's a boom state at the moment for leading all the states, the major states, in terms of the labour market.
[18:07] And it's the, you know, certainly one of, if not the leading state in terms of the capital city and the major regions for home price growth.
[18:17] So and it just keeps on keeping on.
[18:19] And of course, as usual, Queensland is the key destination for.
[18:23] for people wanting to move interstate.
[18:25] You know, everyone's continuing.
[18:28] It continues to lead the interstate migration numbers.
[18:31] So, yeah, it's interesting times and we'll have a very interesting show when we discuss what happens with the Reserve Bank meeting in just under two weeks' time.
[18:44] All right, let's have a look at some home price, sorry, home costs data.
[18:51] And we've got our latest house building cost growth numbers, the My Housing Market House Building Cost Index.
[19:01] This has been problematic recently, Rachel, because we've actually started to see after sort of a tapering off a year ago
[19:08] we then started to see house building costs picking up again.
[19:12] Now, maybe that was a reaction to some strong building approval numbers that came through earlier in the year for houses.
[19:19] Maybe that extra demand started to push up demand oversupply, pushing up building costs again.
[19:26] And really, they started to taper off the last couple of months, but the most recent month, which is August that we have for data, we did start to see some easing again.
[19:37] But it's been a bit of a long time coming, Rachel.
[19:40] Even if we look over the past year, we can see there that house building costs have increased by 8%.
[19:48] And you can see there that sort of rollercoaster ride, well, not rollercoaster ride, but really steep increase in house building costs.
[19:56] since the previous government's home builder allowance, which created all that shortage of building materials and labour that pushed up prices.
[20:04] So look, some better news there, house building costs starting to ease, but let's look at the big picture.
[20:10] If we go back to prior to that surge in house building costs due to the previous government's home builder allowance policy, you can see we're up by nearly 60%.
[20:23] So house building costs, Rachel, have increased by 60% in that four-year period since the end of the COVID period.
[20:37] That's 60% in four years.
[20:39] That's 15% a year, Rachel.
[20:42] So even though it's easing, it's still a lot higher than where it was before.
[20:47] And then when we look at the annual growth rates, yeah, it's good.
[20:49] We're down to 5.3% annual growth in house building costs.
[20:53] But a year ago, Rachel, it was 3.1%.
[20:56] So and that's when we were starting to consistently get back to the sort of annual growth numbers that we had prior to the COVID period.
[21:06] But now we're even though it's better.
[21:08] We're still in the fives.
[21:09] And I've just got a feeling now that 5% is sort of the new norm for house building costs increases, you know, that builders have just sort of really worked that in as being what they do in terms of when they're pitching their, you know, their estimates.
[21:25] It's all 5% escalation annually.
[21:28] Yeah.
[21:28] And that's a lot higher than historically that we normally had with house building costs.
[21:34] And the other point to that is we are actually, Rachel, now starting to see house building approvals starting to fall.
[21:42] And maybe that higher costs this year are starting to impact the level of activity.
[21:49] Of course, there's no doubt that house building approvals are down, particularly in Brisbane area.
[21:55] Melbourne, which are usually the strong capitals for the engine rooms for house building approvals.
[22:02] Now they're lower over the first eight months of this year than they were over the same period last year, house building approvals.
[22:11] And of course, particularly that Brisbane market, as we've already discussed, is a booming market.
[22:15] So much demand and yet they're now producing less supply.
[22:19] Is that a response to higher house building costs?
[22:23] I think it's interesting to speculate.
[22:25] But at the end of the day, all it means is we're still stuck with undersupplying our housing markets.
[22:31] Too much demand, not enough supply, and that too much results.
[22:35] And that's in a relative sense too much compared to supply in higher prices and higher rents, which we're clearly seeing at the moment, Rachel.
[22:44] Well, like you said, the building costs are still high, maybe our new norm.
[22:48] We have seen a slight cooling, though.
[22:50] What do you think has contributed to that shift, and do you think it may be a little bit of a trend?
[22:55] People will be hoping?
[22:56] Yeah, well, as I said,
[22:58] Well, we all hope that because it'll only reduce supply.
[23:01] You know, we certainly need more balance.
[23:04] You know, we don't need governments, you know, handing out first-home buyer, which is great for first-home buyers.
[23:11] Don't get me wrong.
[23:12] Great.
[23:12] High five there, first-home buyers who are on that train.
[23:15] But those that don't get the allowance are going to have to pay more because it's only going to push up prices going forward.
[23:21] We need more supply.
[23:23] And I think this is the problem, as I said, that maybe those higher building costs this year have contributed to lower house building approvals and maybe the lower...
[23:40] costs now are a response to lower house building approvals.
[23:44] So there's fewer, less demand coming through, so builders are becoming more competitive in terms of their estimates, you know, for house building.
[23:55] So we await.
[23:56] But regardless of anything, it's still plus 5%, Rachel, and we were used to 2% to 3% being the norm.
[24:03] So this is still a very strong escalation annually in historical terms for house building costs.
[24:11] And it only constrains supply going forward.
[24:13] But let's hope that we continue the trend of a year ago when we did see it going down and down into the threes now.
[24:19] But then it just picked up again, you know, house building costs.
[24:22] So we wait and see.
[24:24] So let's have a look at the auction market for the last week, that red hot auction market, which doesn't tend to change from week to week in terms of the overall results.
[24:36] So...
[24:38] More auctions again this week.
[24:39] Clearance rate's still strong.
[24:41] We've been saying that for a couple of weeks.
[24:44] Even though more choices for buyers, more competition for sellers, clearance rates are still certainly in favour of sellers.
[24:50] This week we get our biggest test of the year for the auction market.
[24:54] We will have record or near record numbers of auctions being conducted, particularly in Melbourne and Sydney.
[25:01] As I said, it's the Spring Super Saturday, number two.
[25:05] And it's because of the holiday break the week after.
[25:09] But it's also because this is the real meaty part of the spring selling season, Rachel.
[25:15] So we've got plenty of people focused on buying and selling properties.
[25:20] So it'll be interesting to see if the market holds up.
[25:23] But there's no reason to suggest it won't because it has so far changed.
[25:27] done that in spades for most of the year.
[25:31] Just a quick look at the numbers.
[25:32] Sydney, 1,300 auctions well ahead of the week before.
[25:35] Clearance rate, basically the same as the week before.
[25:38] More auctions, same clearance rate, and still tracking well ahead in terms of the clearance rate and the numbers compared to the same week last year.
[25:45] Similar numbers in Melbourne, auction numbers, but the clearance rate, again, same old.
[25:50] And when we look a year ago, that Melbourne clearance rate was 10% lower.
[25:54] So certainly a revived market.
[25:56] Brisbane, as usual, has its own sort of clearance rate methodology.
[26:01] 184 auctions in Brisbane, well up in the week before.
[26:05] Clearance rate down and similar to where it was a year ago.
[26:09] The Adelaide market also higher auction numbers over the week.
[26:12] It was a bit strange the week before for Adelaide market because it had been tracking 80% or close to 80% and plus 80% over the past month or so.
[26:21] But it was back up to a near 80% clearance rate in Adelaide.
[26:25] Again, well ahead of where it was a year ago.
[26:27] And we can certainly call that Canberra market having revived now.
[26:31] Rachel, another clearance rate well above 60%.
[26:35] It was struggling to get to 60% for most of the early part of this year and well ahead of where it was a year ago.
[26:42] And when we look at the trends, they're all the same.
[26:44] The market picks up since those lows.
[26:48] The market has picked up since the interest rate cuts in February.
[26:53] In all our capital city markets, that Melbourne market particularly, you can see there it's revival evident, but it's the same in all our markets going forward.
[27:02] It just shows you the impact that low interest rates has
[27:05] on affordability and generating buyer activity.
[27:09] Adelaide similarly strengthened, and that's the Canberra market, which probably has the most pronounced growth in terms of trend going forward.
[27:18] So as I said, Rachel, clearly a revival driven by lower interest rates and big tests for the market over the next week or so.
[27:31] Yeah, Melbourne's definitely still lighting a sparkler there.
[27:33] Obviously Sydney's always strong.
[27:36] What's keeping that Melbourne market quietly confident right now?
[27:39] Well, it's an opportunist market still, Rachel.
[27:42] I mean, the Melbourne market did nothing for a year or two, nothing for a year or two, when all the other markets were growing through that lower interest rate environment in 2022.
[27:52] So Melbourne was just sort of stuck in the mud.
[27:54] Now, with more interest rate cuts coming through this year, Melbourne's finally up and running.
[28:01] It's not really catching up with the other markets.
[28:04] It's catching up from where it was.
[28:06] So it's catching up on itself, if you know what I mean.
[28:08] But it's still, I mean, the Brisbane median price is now higher than the Melbourne median house price.
[28:14] And Adelaide and Perth are sort of closing in.
[28:17] I don't think Adelaide and Perth will catch up with Melbourne because Melbourne is now growing quite strongly.
[28:23] And just a heads up, as I said earlier, Rachel, we're looking at some very strong prices growth early days over October.
[28:30] So look out for that.
[28:31] But, yeah, Melbourne just keeps on keeping on.
[28:33] But, look, we've been saying this for a couple of years that it was an opportunist market, Rachel.
[28:38] Of course, you know, we're not sitting back saying, hey, I told you so, but we did.
[28:42] And it was clear that given that the Melbourne economy was basically performing as well as other economies and that there were no clear reasons other than confidence that was keeping that Melbourne market subdued, it was always going to start to break out.
[28:55] And those yields for Melbourne, particularly Melbourne units, were high enough to attract investors, which they have done.
[29:02] And of course, that means more demand, particularly for units.
[29:05] And we've seen growth in the unit market, which I still think the Melbourne market's got some way to run.
[29:11] particularly given that even though it's improved, the higher end of the market is still a little bit so-so, but this is the time of the year when prestige property does take off in Melbourne.
[29:22] It is very much a prestige market spring selling season in Melbourne.
[29:28] And I guess we'll start to see over the next week or so, whether that's really going to revive as other parts of the market have.
[29:36] But, um,
[29:37] Yeah, but if you're looking for the latest auction clearance rates, Rachel, you'll find them when we look at the slide every week on my LinkedIn channel, Doc Andrew Wilson at LinkedIn, the Capital City Snatch Shot every Saturday night at around 6pm and the full national report, which includes the...
[29:57] regional breakdowns for Melbourne and Sydney, and of course the top 10 sales under the hammer, which is always interesting to see, the top 10 sales under the hammer for each of the capital cities over the week.
[30:08] So if you've missed the latest National Weekly Market Report, auction report, there is a QR code.
[30:13] You can scan that one.
[30:15] and that will take you to a PDF copy of the latest auction report.
[30:19] We'll finish off, Rachel, with the greatest giveaway in property, the My Housing Market Infinity suburb data app.
[30:25] We talk about capital cities and regions mostly on our show, but this is an opportunity for those out there to see what's happening on a suburb level.
[30:33] in terms of asking prices and asking rents in real time for the whole national housing market.
[30:39] So if you want to get a copy of that fantastic app to put on your phone or on your desktop, there is a QR code to scan or you can click the link.
[30:48] The good folks at Infinity will tell you how to access that app.
[30:52] And it is a great little tool, a great little assistance for those in the property market or those just wanting to know what's happening in terms of market activity.
[31:01] There's a screenshot.
[31:02] We can filter it for price or rent.
[31:04] These are current asking prices.
[31:06] So this is telling you what agents and vendors.
[31:08] believe the market is holding at the moment.
[31:11] So we're scanning this for price.
[31:12] You can filter it for the capital city region or the outside capital city region of each state.
[31:18] We're filtering this for New South Wales, Sydney region.
[31:20] We're looking at Blacktown.
[31:22] You can filter it for house unit or townhouse.
[31:24] We're looking at...
[31:25] houses and you can also filter for the number of beds so that's a four bedroom house in Blacktown not just the median asking price but also the high and the low so you know the boundaries on which the market is performing also telling you the number of properties that are currently for sale with those filters and you can do exactly the same thing
[31:46] For the rental market, Rachel, the high, the low and the median rent in Blacktown and the number of properties currently advertised for rent.
[31:53] And for investors, we're also able to track the gross yields, that is the annualised current asking rent divided into the current asking price to give you the top 10 yields there.
[32:05] in order, as well as the current vacancy rate, the number of properties for rent, and the number of properties for sale.
[32:10] So you can make even more insightful decisions in terms of return on investment insights.
[32:17] And if you don't know where these suburbs are, you can click on the hot link there for the suburbs, and that'll take you to a map.
[32:23] of those particular areas.
[32:25] Next week, very important drum roll, September inflation, and we'll have a chat, Rachel, about what we should expect.
[32:32] We've given a bit of a clue to that so far today of the RBA's Melbourne Cup rate meeting.
[32:38] So we'll have a preview of that, which is really exciting.
[32:40] And, of course, as usual, the latest weekly auction results.
[32:43] If you've missed any of the data in today's podcast, here is a QR code.
[32:48] You can download all the hard data there.
[32:50] And until next week, and I look forward to seeing you again then, Rachel, when we can have a really in-depth look at inflation.
[32:58] Hey, don't we love inflation?
[33:00] Well, we don't love it, but, you know.
[33:01] We don't love it, yeah.
[33:03] But we love it because it tells us what's going to happen with interest rates and we love interest rates, particularly those, well, if we're homeowners, we love them when they're going down.
[33:13] Hence this year we've had a real love-in with lower interest rates.
[33:18] But will it continue?
[33:19] Well, you tune in next week and we'll tell you what we think will happen.
[33:23] Yeah.
[33:24] Awesome.
[33:24] Well, there you have it.
[33:25] Markets move fast, but Doc moves faster.
[33:28] We'll catch you next week for more Wilson Weekly, where data meets dollars with a dash of drama.
[33:33] I'm Rachel Howlett, your finance strategist, helping to bring you the property market news every week with Dr. Andrew Wilson.
[33:39] Thanks, Doc.
[33:40] Good on you, Rachel.
[33:41] See you.

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