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Welcome to Inner Circle for September. Spring is here, the football finals and racing carnival are just around the corner, even Melbourne’s weather is looking good.
Welcome to Inner Circle for August. The busy spring market is just around the corner, so let’s take a look at what is happening in the property world.
Welcome to the new financial year. While you’re getting your tax affairs in order and looking to the future, we’ll take a look at the latest property market stats and how some of our clients are making the most of real estate opportunities.
Market News. The release of property data for May 2024 confirms property remains a solid investment despite the cost of living increases and higher interest rates than we’ve seen over the last decade. CoreLogic’s numbers show a resilient national market, with Perth and Brisbane accelerating, and Sydney regaining ground lost in the great interest rates hike. Melbourne, Canberra and Hobart remain in the slow lane for now.
Market News. Over the last 12 months, Sydney recorded growth of 8.7%, Melbourne 2.8% while Perth was the standout with growth of 21.1%. Across Australia, the lower value range of the market is recording stronger growth than the top quartile. Regional city prices are now growing with centres like Albury-Wodonga, Geelong and Ballarat performing well.
Market News. After being led by the upper quartile most of last year, the strongest growth conditions have migrated to the lower quartile in Melbourne, Sydney and most capital cities. Across all capital cities, lower quartile home values increased 3.1% in the first quarter of this year compared with a 0.7% rise across the upper quartile. We’re also starting to see some rebound in regional city prices. Geelong’s middle and upper price levels in particular are showing some strong results this autumn.
Market News. According to PropTrack, Melbourne home prices rose 0.3% in in February taking the metro’s median home price to $797,000. From Property Mavens perspective, that makes Melbourne a red-hot favourite to lead growth in 2024, especially towards the end of the year. With inflation already down to its level of 2021, investors are betting interest rates are likely to fall in the second half of the year and are coming back into the market in force.
Market News. It has been a typically uneventful summer for real estate with market figures showing not much change. The average Melbourne home now costs $777,250 after a rise of 3.9% over the last year. Agents report a solid uptick in listings at the start of 2024 and are generally speaking bullish about the year ahead.
Market News. Like many years, 2023 started with predictions of falls in property prices. Also like many years, that didn’t come to pass Australian house and apartment values had a solid year, increasing by 8.1% nationally over 2023, according to analysts, CoreLogic. As you can see below, perennial underperformer Perth turned the tables on an ordinary decade recording a 15.2% jump in prices
Picking a winning property investment during the spring selling season Will Sydney real estate reignite, Perth power on, or Melbourne's market make a comeback this spring selling season? After the cold months of winter, spring is approaching. Each year around Australia, property markets emerge from their slumber and jump back to life.
Market News. Property values growth across the country are slowing as buyers at the top of the market baulk at eye-watering prices. But the affordable section of the market and some areas trading just above the median house price are traveling well.
Managing cashflow shortfalls in property investment is essential for financial stability. Here are some effective strategies to help you weather the storm: