This time last year, you could’ve bought anywhere and be almost guaranteed a capital gain on your property. This year, conditions are far more complicated.
In Melbourne and Sydney, prices are stabilising while in other cities, price growth is not quite as strong as it was in the final quarter of 2021. Interest rate talk continues and although we’re yet to see a rate rise, banks are now starting to move on fixed rates in anticipation of rates increasing sooner rather than later. The federal election is imminent and housing affordability is likely to be a key policy battleground.
Finally, with lockdowns no longer on the horizon and international borders reopen, we’re no longer saving as much as we did over the past two years. It also means Australian population growth will pick up again. All of these change the outlook for property.
This month in Ray White Now, we explore some of the reasons why so many of our customers are selling in the current market, and we detail who the main winners are from a slowing market. It isn’t just first home buyers that like more stable conditions.
We also provide details on the markets that are being watched closely, which include some that have been top performers (and should continue to be), and some that haven’t benefited at all from the boom time conditions we’ve seen over the past two years. Finally, for those of you interested in commercial property, we take a look at properties that can be purchased for the same price as a residential investment.
We hope you enjoy this month’s Ray White Now and we’re proud to be providing you with relevant, timely and interesting content and data in 2022.
Australian house and unit prices continue their upward trend this month, albeit at a slower pace. Both housing types saw a modest 0.2 per cent appreciation. However, the market is exhibiting greater diversity across states and regions, reflecting varying local economic conditions. July’s CPI results indicate a continued downward trend, … Read more
Australian residential property values have continued their upward trend in recent months, though June saw a deceleration with both houses and units recording a modest 0.2 per cent monthly increase. The ongoing scarcity of available properties and limited listings has intensified competition, driving up prices in both capital cities and … Read more