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Australian property resales reach record #profitability. In Q1 2024, Australian property resales hit their highest profitability since July 2010, with an impressive 94.3% of transactions recording a nominal gain, according to CoreLogic's latest report. Despite economic challenges and high mortgage rates, national home values rose by 1.7%, boosting the market's stability. Key Highlights: • Median gross profit: $265,000 • Total resale profits: $28.6 billion • Most profitable cities: Adelaide & Brisbane (98.4% profit rate) • Houses vs. units: 97.1% of house resales were profitable vs. 89.0% of units This surge underscores the resilience of the Australian housing market and reassures a level of financial stability for property owners.

There are two conflicting stories about Australian real estate ownership making the rounds in the media. One popular narrative is that the Great Australian Dream is dead, with young Australians supposedly unable to afford homes anymore. The other, backed by data from the Australian Bureau of Statistics, shows a different picture—suggesting that the dream is not only alive but thriving. The latest ABS figures reveal an uptick in home purchases. More people are buying homes, whether as first-home buyers, other owner-occupiers, or investors. According to Hotspotting, sales volumes surged in the June Quarter. Lending for home purchases jumped 19% in June compared to the previous year. Loans to owner-occupiers rose by 13%, and even more so to investors. First-home buyer loans also increased, though not as dramatically. If people truly couldn’t afford homes, lending and sales wouldn’t be rising, including among first-home buyers. The property market remains lively across most of Australia, with active buyers across the board. So, the next time you come across a headline claiming the Great Australian Dream is dead, remember the facts don’t always support it.

Exciting Developments in the Australian Property Market The Australian real estate landscape is shifting dramatically, marked by several key trends that could define the coming years. New Loan Volumes Surge New loan volumes have surged by an impressive 16% year-on-year, reflecting renewed confidence among borrowers. Key drivers of this growth include: *Easing Interest Rates: Stabilising rates have spurred potential homeowners to take action. *Pent-Up Demand: After years of uncertainty, buyers are eager to enter the market. *Diverse Financing Options: An expanded range of mortgage products is making homeownership more accessible. *Strong Economic Indicators: Improving employment rates are boosting market confidence. Anticipation of Rate Cuts Adding to this momentum, experts suggest that interest rate cuts could be on the horizon. The Real Estate Institute of Australia (REIA) indicates that a reduction may not be far away, potentially stimulating further borrowing activity and enhancing market dynamics. Record Property Values In addition, the market is witnessing record-high property values, paving the way for a potential price boom in 2025. Key insights include: *Investor Confidence: Rising property values are encouraging investors to expand their portfolios. *Shifts in Buyer Preferences: Buyers are prioritising homes that meet their evolving needs, whether that’s more space or better amenities. *Economic Stability: A favourable economic environment supports the upward trend in property values. Looking Ahead With these developments, we may be on the cusp of a transformative period for the Australian property market. As demand continues to grow, the combination of increased loan volumes, potential rate cuts, and record property values could create significant opportunities for both buyers and investors in the coming years.

Australia’s regional property markets are continuing to outperform capital city markets, according to the latest CoreLogic quarterly regional Market Update. Its list of the top ten performing regional markets in Australia is dominated by regional centres in Queensland and Western Australia. Mackay in Central Queensland was the top performer in the quarter with 8.3% growth, followed by Geraldton in WA (8.2%) and Townsville in Queensland which was up 6.6%. Affordability plays a big role in the growth the top areas achieved. Regions like Mackay, Geraldton, and Townsville are seeing exceptional growth, driven by affordability advantages compared to our major cities, as well as lifestyle appeal. This will have contributed to the strong demand but even with the impressive growth, for those with the capacity to service a mortgage, they still remain attainable with medians less than $600,000. Properties sold the fastest in Bunbury in Western Australia – within an average of just 13 days. The report also analyses median dwelling value growth over the past five years and rental growth over the same period. Busselton had the highest dwelling growth of 91%, followed by Maryborough, 90.3% and Bundaberg 90.1%. Gladstone rents were up by 81.6% over the past five years.

Standard Chartered sees possibility of continued weakness in China's housing market in the months ahead. Find out more. https://lnkd.in/dVrPCv39 #china #investing #standardchartered #housingmarket #stockmarketnews #economicnews #businessnews #beijing #realestate #mortgage #homebuilders

Sydney property prices have climbed to new heights after surging throughout 2024, however growing global volatility may soon slow this growth. Australia’s property market has been rocked by recent global turbulence in equity markets, resulting from uncertainty surrounding regional conflicts and political campaigns. Tensions may send prospective buyers on a flight to quality, where they look to invest in less risky properties. Investors may instead choose high-end properties in high-value suburbs, steering away from other options that are at a higher risk of tenant vacancies or fluctuations in value. Additionally, the recent RBA meeting may also impact the sentiment of buyers and investors. In the August meeting, a decision was made to hold the cash rate at 4.35% for the sixth time in a row to stay on course with inflation, as a reduction in interest rates does not follow the RBA's current macroeconomic policy in countering inflation. Many who are coming to the end of fixed-term home loans that were secured at a much lower interest rate are struggling with mortgage affordability. Sustained interest rates might force more homeowners to downsize, which could bring a greater supply of properties to the market. If you are unsure of whether you should purchase now or wait, the expert team at Rose & Jones has more than 25 years of experience and can help you navigate the market. Get in touch with our buyer’s agents now.

🏠 Australians are cashing in BIG on property resales! Did you know the average profit from reselling property in Australia has soared to a 📈 record-breaking $285,000? The real estate market is hotter than ever, and it's creating massive opportunities for savvy homeowners. Whether you're thinking of selling or just curious about how people are pocketing these incredible gains, this article breaks it down. Don't miss out on the latest trends and insights that could shape your 🔑 property future! Read the full article to find out how YOU can benefit from these booming profits: https://lnkd.in/gZJRJCtx #RealEstate #PropertyProfits #HomeResale #AustralianMarket #EquimaxPropertyGroup #InvestSmart #PropertyInvesting #RecordProfits #propertyinvestment #propertyinvestmentadvisor #realestate #realestateinvesting #realestatenews

📈 Scotland’s Housing Market Bounces Back! 🏡 Great news for #Scotland’s #housing #market: property prices have surged by 1.9% over the past year, marking the strongest growth in 12 months and outpacing England and Wales. According to the Walker Fraser Steele House Price Index, the average property value in Scotland hit £223,525 in March, up 1.4% from February, after five months of decline. Regional Highlights: 🔹 Record Highs: #Midlothian, #Argyll and #Bute, #Falkirk, and #Inverclyde reached new average property value records. 🔹 Widespread Growth: 21 local authorities reported rising prices, the highest number since last May. Insights from Scott Jack, Regional Development Director at Walker Fraser Steele: “#Midlothian saw a notable 1.5% increase, making it the fifth local authority with average property prices above £300,000. #Competitive #mortgage rates show lenders are keen to attract borrowers, and with a general election coming, housing will be a key issue for voters. We may see new promises to buyers and owners, boosting this positive trend even further.” What Does This Mean for You? Whether you're buying, selling, or investing, these trends are crucial. Stay informed as competitive mortgage offerings and political developments shape the market. Join the Conversation! 😃 What do you think about Scotland’s housing market recovery? Have you noticed changes in your area? Share your thoughts and experiences in the comments! Full article: https://lnkd.in/eSr3TSTg #HousingMarket #RealEstate #PropertyPrices #MarketTrends #Investment #HomeBuyers #RealEstateNews #EconomicGrowth #ScottishHousing #NUMMUSFinance

Australian Property Markets in Growth Mode! Australia's diverse property landscape encompasses hundreds of markets, each at different points in their cycle. While fluctuations are common, the prevailing trend across the majority of markets is one of growth. An extensive analysis by CoreLogic Australia covering 4,625 house and unit markets nationwide revealed that a staggering 88.4% experienced median price increases over the year to February 2024. This marks a significant increase from 52.9% in July 2023 and 39.1% in February 2023. CoreLogic economist Kaytlin Ezzy attributes this widespread price growth to an ongoing imbalance between housing supply and demand. Despite multiple rate hikes, affordability challenges, and rising living costs, the persistent undersupply of housing stock coupled with robust demand, fueled by strong net migration, continues to drive values higher. As the property market remains dynamic, understanding these underlying factors is crucial for navigating buying, selling, or investing decisions. Are you looking to purchase a home in the near future? Make sure you get in touch with our expert home loan strategists for an obligation-free chat. We've helped guide countless Aussie homeowners through the complex landscape of home loans and refinancing to open doors to their new homes. Your dream home is only a call away. Contact us to get started. www.rateseeker.com.au #Rateseeker #borrowingtips #propertygrowth #housingvalue #unitvalue #homevalues #marketvalue #realestateau #propertyau #homeloanhelp #aussieloans #propertyinvestors #interestrates #propertymarket #australianrealestate #markettrends

Australia’s median property price increased for the 19th consecutive month in August (see graph), but the rate of growth is slowing, according to CoreLogic. CoreLogic said “affordability constraints are a key factor behind the broader slowdown”. Another factor is the interplay between supply and demand. “At a high level, there is still more demand for housing than available supply, but the flow of advertised supply and demand are becoming increasingly balanced.” Nevertheless, CoreLogic forecast the national median price would continue rising over the remaining months of 2024, albeit at a modest pace. “While there is a clear slowdown in growth, housing values are underpinned by a longer-term lack of new supply, which has been exacerbated recently by ongoing constraints in the residential construction sector,” according to CoreLogic. “Buyer numbers have slowed amid high cost of living pressures, but vendors in most markets will likely be empowered to delay their home sale if buyers do not meet their price expectations.” #evokecapital #financebroker #mortgagebroker #mattspears #finance #lending #property #realestate #mortgage #australia