Navigating the Waves of Australia's Property Market in 2024
The week in Australian property with Rasti Vaibhav | 23rd February 2024
G'day, property enthusiasts! As we sail through the dynamic tides of the Australian property market, the week ending 23 February '24 has brought us some fascinating insights. With land prices reaching new peaks and the rental market squeezing tighter.
It's an exhilarating time to be involved in real estate down under. Whether you're a first-home buyer, an investor looking to expand your portfolio, or simply keeping an eye on the market, I'm here to share the latest trends and tips to help you navigate these waters.
Land Prices Soaring to New Heights
The Australian dream of owning a piece of this beautiful country is becoming more challenging, with the national median price of a residential block hitting a record $340,000 in the September quarter of 2023.
A Beacon of Hope for First-Home Buyers
Victoria: Thomastown and Mickleham
Queensland: Morayfield and Springfield Lakes
New South Wales: Hamilton and Mayfield
This week on Realty Talk - out tomorrow!
This week we start to present a balanced view of the property market. Over the next few weeks we will feature a range of respected property professionals and proven industry commentators from Bricks & Mortar Media’s annual property market forecast report that has just been released. Bushy starts today by catching up with the author of the report Nicola McDougall. Nicola is a Director of Bricks & Mortar Media and as the Chair of the Property Investment Professionals of Australia there is no one better to lead this conversation.
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Grandparents: The Silent Pillars of Homeownership Dreams
In an emotional twist to the property narrative, grandparents are increasingly becoming the unsung heroes.
The Build-to-Rent Sector: A Rising Star
The build-to-rent (BTR) sector is poised for explosive growth, with projections indicating a potential tripling of units by 2026. This sector, was buoyed by over $5 billion in capital last year.
The Rental Market Tightens
As university students return, the demand for rentals is spiking, pushing prices up. With a national vacancy rate of just 1.1%, the competition for rental properties is fiercer than ever.
About Rasti
Rasti Vaibhav, Your Architect of Property Wealth and Buyers Agent.
Navigating the property market's complexities can be daunting but fear not – we’re here to guide you through. Keen on understanding how these developments impact your property journey? Book a one-on-one consultation with me at https://getrare.com.au/ready or join our upcoming educational Masterclass on investing in Super. More details here: https://getrare.com.au/smsf
Let's unlock the potential of your property aspirations together!
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