The New Age of Property Investment in Australia: A 2024 Perspective
The week in Australian property with Rasti Vaibhav | 19th April 2024
Hi everyone,
Welcome to our latest update on the Australian property market, where we delve into the emerging trends shaping real estate in 2024. This year, we're seeing a dynamic shift as Millennials and Gen X increasingly dominate property investments, regional markets surge ahead, and the rental landscape experiences significant price adjustments
.Join us as we explore these developments and their implications for investors and homebuyers alike, providing you with the insights needed to navigate this evolving market landscape.
The New Age Investors: Millennials and Gen X Leading the Way
In 2023, Millennials (born between 1981 and 1996) constituted 46% of new property investors, closely followed by Generation X (born between 1965 and 1980), who made up 37% of the purchases.
Rents Continue to Rise: The Rental Market's Upward Trajectory
Notable rent increases across major cities, including Adelaide, Perth, Melbourne, Brisbane, and Sydney
The pressure on rents continues despite a slowing pace compared to the previous year, with rents still climbing significantly across the board.
This week on Realty Talk - out tomorrow!
AI - Artificial Intelligence - is very much a part of our lives. It is working in places we don’t even realise. As an example - did you realise AI could be impacting your borrowing ability? Bushy discusses that with finance broker and thought leader Jason Back. Also this week we present another installment of our special series on Property Management. Lauren Robinson talks tech with Bushy and how to leverage the opportunities it offers.
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Investors and FHBs Back: Resurgence in Home Loans
Mish Tan, Head of Finance Statistics at ABS, highlights a significant 21% annual increase in loans to both investors and first-home buyers
Notably, first-home buyer loans rose by 4.8% in February, demonstrating market resilience.
Regional Price Growth: Outpacing the Capitals
According to PropTrack data, regional house prices are experiencing unprecedented growth, the highest since the onset of the pandemic in March 2020. This trend reflects a significant shift in preferences towards more affordable and lifestyle-appropriate properties outside of the capital cities.
The evolving Australian property market offers diverse opportunities for both seasoned investors and those new to real estate. Understanding these shifts and the underlying trends is key to navigating this dynamic landscape.
By Rasti Vaibhav,
The Architect of Property Wealth,
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