Exploring Australia’s Property Market: What’s Hot, What’s Not, and Future Predictions
The week in Australian property with Rasti Vaibhav | 5th April 2024
Hi there,
In a landscape as vibrant and ever-changing as the Australian property market, keeping pace with the latest trends and shifts is essential for anyone looking to make their mark. This week, we’re bringing you the freshest insights straight from the heart of the market, covering everything from the suburbs catching buyers' eyes to the latest in property values, profits, and lending changes.
Join us as we unpack the crucial developments for the week ending 5th April '24, offering you the knowledge you need to navigate the complexities of real estate in Australia.
The Suburbs Everyone's Eyeing
A significant surge in online property searches has pinpointed the most desirable suburbs across the nation, marking a more than 40% increase in the past year alone. According to PropTrack economist Anne Flaherty, these statistics are not just numbers but a beacon indicating where the market's temperature is rising.
Australian Property Values: On an Upward Trajectory
The resilience of Australia’s property market is once again in the spotlight, with the CoreLogic Home Value Index reporting a 0.6% increase in March, a continuation of a 14-month growth streak. This uplift translates to an astonishing $72,000 increase in property values, a testament to the market's strength.
This week on Realty Talk - out tomorrow
We have a blockbuster for our 600th show. This week we help if you are actively invested in residential property and interested in diversifying into commercial property. Bushy is joined by Mish Daniel the founder of commercial buyers agency Revolve Commercial to discuss the differences between resi and commercial and why it is important to understand them before getting started. Also Bushy asks Dr Cameron Murray, Chief Economist at Fresh Economic Thinking, what’s really going on with housing affordability and what needs to change.
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Profitable Ventures: Where Sellers Win
The latest insights reveal a profitable quarter for Australian home sellers, with an average gross profit of $310,000. This figure is a beacon of optimism, illuminating the profitable avenues within the property market.
These areas represent not just geographical locations but milestones where strategic investments have translated into significant gains.
As we dissect these trends and data, it’s evident that the Australian property market, with all its intricacies, continues to offer a fertile ground for those looking to invest, sell, or buy. The blend of rising values, in-demand suburbs, profitable sales, and innovative lending proposals paint a complex yet promising picture of what lies ahead.
Rasti Vaibhav, The Architect of Property Wealth
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