The latest national listings and appraisal data from Raine & Horne indicate that Australian property owners are getting on with the business of selling their homes or investment property. 

The latest data shows that those homeowners seeking appraisals about the value of their properties are on par with the bull market conditions of 2022, and appraisals are a robust 15% stronger than the frenzied markets of January 2021. 

Likewise, the numbers of owners listing their properties for sale last month were close to those of a year ago and almost 4% stronger than the bull markets two years ago. 

"In markets such as Hobart, appraisal and listings are more than 50% higher than a year ago, while listings are also up by more than 50% in Darwin," said Angus Raine, Executive Chairman, Raine & Horne. 

"A lack of listings has been a stumbling block for real estate activity over the last year. So, it's pleasing to see vendors across Australia are still confident about the prospects for our favourite asset class and are seeking appraisals and listings and a possible sale, most likely before the Easter break. 

"These numbers tell me that there is a belief the market cycle will turn again in 2023."

The latest data from CoreLogic supports Angus' optimism. CoreLogic's national Home Value Index (HVI) for January fell a minimal 1.0%, the smallest month-on-month decline since June last year.

CoreLogic Research Director Tim Lawless said that although the housing downturn remains geographically broad-based, there are signs that some momentum has left the housing downturn.

"The quarterly trend in housing values is clearly pointing to a reduction in the pace of decline across most regions, however at -1.0% over the month and -3.2% over the rolling quarter, national housing values are still falling quite rapidly compared to previous downturns," Tim added. 

The CoreLogic research also shows that property owners in Adelaide are still ahead, with the SA capital recording annual growth of 6.9%, with Darwin the next best with yearly growth of 3.7%. Perth is in third place, with annual growth of 2.7%. 

Head to the regions 

The long-term news is even better for those with properties in regional Australia. Tim said, "Despite easing rates of internal migration and a partial erosion of the pre-pandemic affordability advantage, regional housing values are holding up better than capital city markets.

"This will be an interesting trend to watch over the longer term, but at the moment, it seems regional housing markets have seen a structural shift in the underlying demand profile. With more Australians willing to base themselves outside of the capital cities and remote working remaining a viable option across some sectors of the labour force, it's unlikely we'll see a mass exodus from regional markets."

If you want to know the value of your home with a view to a possible sale before Easter, contact your local Raine & Horne agent today for an obligation-free appraisal.