This month we take a look at what you should consider if you’re looking to sell. Price growth continues to accelerate but we’re starting to see days on market increase, a sign that there’s a growing gap between buyer and seller expectations. In addition, the first set of finance restrictions came into effect at the start of November – at present, they are light touch but may be ramped up at the start of 2022.
In our state by state analysis, we hone into luxury markets around Australia. Luxury homes did far better during the pandemic than they otherwise would, driven by cheap finance, high savings rates and of course, some business types that did far better because of the pandemic. Every decade, the median of our most expensive suburbs have increased by $1 million however over the past decade, they have catapulted $2 million ahead.
Every time there’s price acceleration, commentary around house price bubbles ramps up. This month we take a look at when Australia has experienced house price bubbles, and what has driven them. More importantly, we discuss whether we’re currently in a house price bubble.
Finally, our commercial property story this month looks at what to look out for when investing in this type of property. From zoning to lease terms, it is generally more complicated than residential purchases.
We hope you enjoy this month’s edition of Ray White Now.