[NEW VIDEO]: Victoria's New 2024 Landlords' Land Tax Explained: The Good, The Bad, and The Ugly!

You may need to pay land tax if you own an investment property, holiday home, commercial property or vacant land.

What is land tax?

Land tax is an annual tax based on the total taxable value of all the land you own in Victoria, excluding exempt land such as your home (principal place of residence).

Land tax is calculated using the site values (determined by the Valuer-General Victoria) of all taxable land you owned as at midnight on 31 December of the year preceding the year of assessment. 

You may have to pay land tax if you own, either individually or jointly with others:

• investment properties, including residential rental properties
• commercial properties such as retail shops, office premises and factories
• holiday homes
• vacant land.

Land tax assessments are generally issued between January and June each year. 

Land tax exemptions 

Land tax does not apply to exempt land such as:

• your home, known as your principal place of residence (PPR)
• your farm, known as primary production land (PPL)
• rooming houses and charitable institutions.

If you start leasing your home (your principal place of residence) or change your address, the exemption ends and you must notify the ATO immediately. 

Paying your assessment 

There are 3 ways to pay your land tax assessment – via credit or debit card, BPAY, or in instalments via AutoPay.

If you choose AutoPay, you can pay your land tax assessment in fortnightly, monthly or in four equal payments up to 38-weeks from the issue date on your assessment. AutoPay instalments must be set up annually as instalment amounts can change depending on your tax liability.

You can create an AutoPay arrangement via My Land Tax. It is important to pay or set up a payment arrangement on time to avoid late payment interest and recovery action. 

Land tax trust surcharge

Land held on trust for a fixed, discretionary or unit trust is generally assessed at trust surcharge rates of land tax. The trust surcharge does not apply to land held by an administration trust, an excluded trust or an implied or constructive trust.

The trust surcharge rates are higher than general land tax rates and apply once the total value of the taxable land held by the trust is $25,000 or more. When the total value of the taxable land is $3,000,000 or more, there is no difference between the general and trust surcharge land tax rates.

If you tell us about the beneficiaries of the trust, we may assess the trust at general rates and may also assess the beneficiaries for their interest in the trust land in any individual assessments they receive.

Absentee owner surcharge

If you are the trustee of an absentee trust, the absentee owner surcharge applies to the trust’s taxable land. The absentee owner surcharge is additional to the land tax you pay at general or trust surcharge rates.

The surcharge is 4% from the 2024 land tax year (previously 2% for the 2020-2023 land tax years, 1.5% for the 2017-2019 land tax years and 0.5% for the 2016 land tax year).

An absentee trust is a discretionary trust, a unit trust or a fixed trust, which has at least one beneficiary who is an absentee person. If you are the trustee of an absentee trust that owns taxable land, you must also tell us you are an absentee owner.

Dear Fellow Property Investor,

Recent infrastructure developments and upgrades to local amenities have been key factors in Altona’s recent property price surge, according to a local real estate director. 

Real Estate Institute of Victoria (REIV) data showed a 25 per cent increase in the median property price to $1.2 million in the June quarter

The number of properties sold in Altona has remained steady, with 120 properties sold this quarter compared to 118 in the March quarter.

Ray White Altona director Anthony Anile said the steady volume of sales and rising prices indicates a strong demand.

Properties have been selling faster, with the average days on market reducing from 45 to 30 days, while Mr Anile said was a sign of increased buyer interest and competition.

Auction clearance rates have also risen considerably, going from 70 per cent to 85 per cent, the data revealed.

First-home buyers and investors alike have shown an interest in Altona, with increased activity from both demographics.

Mr Anile mentioned “the appeal of a coastal suburb with a relaxed lifestyle,” as being among the deciding factors.

The suburb is attracting young professionals, singles and couples, as well as families,” he said.

“They are drawn by the family-friendly environment, good schools, parks, and community facilities,” he said.

The suburb saw the largest median price increase in Hobsons Bay and Maribyrnong and was significantly higher than the rest of metro Melbourne, which recorded a 1.5 per cent decrease to property prices.

Among the suburbs in Hobsons Bay and Maribyrnong to also record a rise were Altona North (7.8 per cent to $965,000), Footscray (5 per cent to $1.1 million), Kingsville (1.6 per cent to $1.1 million), Laverton (0.8 per cent to $578,000), Seabrook (2.8 per cent to $784,000) and West Footscray (11.4 per cent to $1.02 million).

Let me ask you something…

Do you have a game plan for 2024? 

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them? 

So, what are you waiting for? 

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

Melbourne renters are now paying almost $2900 more in rent than they were 12 months ago, new data has revealed.

According to PropTrack’s latest Market Insight Report, Melbourne rental prices have climbed by 10.6 per cent in the year to June 2024.

The median advertised rent increased by $55 a week over the last 12 months, meaning renters on average are having to pay $2860 more a year. 

Across the board, the median weekly cost of renting a home in Australia’s capital cities has increased by 10.3 per cent.

Renters in Sydney are paying the most ($740 a week), followed by Perth ($650), Brisbane ($620), Darwin ($600) and the ACT (also $600).

Despite the sharp increase over the past 12 months, Melbourne is the third-cheapest city in Australia to rent in ($575 a week), with Adelaide coming in at a close second ($570)

The cheapest place to rent is in Hobart, which recorded a median rental price of $510 a week over the last 12 months.

“Sydney remains the most expensive capital city to rent a home, with the median advertised rent rising 2.8 per cent over the quarter and 8.8 per cent year-on-year to reach $740 per week,” PopTrack said.

“Over the past decade, Perth has transitioned from being the most affordable capital city to rent to the second most expensive behind Sydney, with the median advertised rent hitting $650 per week in June.

“Hobart and the ACT were the only cities which saw rents decline over the quarter, however Hobart remains higher compared to 12 months ago while the ACT’s rental prices have held steady.”

Let me ask you something…

Do you have a game plan for 2024? 

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them? 

So, what are you waiting for? 

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

(KPMG Australia releases latest property report)

Dear Fellow Property Investor,

House prices will rise nationally by 5.3% over the next six months and by 5.6% during 2025, KPMG’s new property report on Australia’s capital cities finds.

Apartment prices across the country will see an average rise of 4.5% by December and then match houses by growing by 5.6% in the following 12 months.

For the next six months, there will be considerable national variation with Perth house prices rising by over 10% while Darwin and Hobart only experiencing 1.4% growth. For units, the predicted increases range from Perth’s 8.6% to Canberra’s 1.3%.

But in 2025, there will be much greater house price growth consistency across the country. Melbourne houses will rise the most by 6.5% followed by Canberra at 6.0%, but even the lowest, Brisbane will still rise by 5.1%. By contrast, units will still have considerable regional variation next year, ranging from Perth’s 8.0% growth to Brisbane’s more modest 2.5% increase.

The previous 12 months, to March 2024, saw a 7.7% national rise in house prices – with Perth, Adelaide and Brisbane the stand-out performers – and 6.1% in apartments. The slower growth over the next six months is attributed to a slower rate of migration, and the cooling impact of high interest rates. Prices will then start rising slightly faster during 2025 as rate cuts start to be introduced by the RBA, as KPMG anticipates.

Rents are tipped to rise by 4-5% over the next two years, having increased by 7.8% over the past year, the largest increase since the GFC in 2008/9.

Dr Brendan Rynne, KPMG Chief Economist, said: “In a year of high interest rates and inflation and subdued consumer sentiment the housing market has withstood all those factors and still provided strong price growth, due to demand outstripping supply. Even the much-anticipated ‘fixed-rate cliff' – the transition of mortgage holders off lower fixed rates to higher variable rates – has only had a mild impact and households have so far coped well with the rate rises, due to a robust labour market and Australia’s historic low unemployment rate.”

“Supply has remained insufficient, and while we do forecast a slight rise in housing approvals, this will take time to translate into actual housing completions, due to the time lag inherent in the process. Although material costs and financing costs have started to stabilise after sustained increases, labour costs continue to increase in response to high demand for qualified tradespeople. Many barriers remain to developers building new homes, while continuing high rental costs are pushing renters to look to buy instead, which is pushing up demand.”

“After the exceptional house price increases we have seen in several capital cities over the past 12 months, we do forecast a slowdown in the rate of growth, given the drop in migration, the delayed impact of high interest rates and a predicted increase in unemployment over the rest of this year. Foreign investment activity has also yet to regain its levels of two years ago. But overall we will still see solid price gains over the next 18 months, especially in 2025, as the RBA starts to introduce interest rate cuts, as we anticipate”.

Let me ask you something…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them?

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

The Australian housing market has weathered significant challenges over the past five years, showing remarkable resilience despite a global pandemic, multiple interest rate hikes, and high inflation.

The latest data sheds light on the current state of the property market and offers insights into its trajectory for the remainder of 2024.

1. Total value of residential dwellings

The total value of residential dwellings in Australia surged by $209.4 billion this quarter, reaching $10.7 trillion.

This represents a 2% quarterly increase and a 9% year-on-year rise.

National home values have rebounded from the 2022/23 downturn caused by interest rate pressures, reaching new record highs.

PropTrack's Home Price Index indicates a 6.68% annual increase in home values, with capital cities leading the growth.

Households own $10.29 trillion of the total residential value.

The average price of residential dwellings climbed by $14,300, hitting $959,300 this quarter.

2. Increase in residential dwellings

The number of residential dwellings rose by 52,700, totalling 11,176,100 this quarter.

This 0.5% increase during the March quarter equates to one property per 2.4 people.

Over the past year, more than 170,000 homes were added to the inventory, matching the new homes built within that period.

However, to meet the Government's pledge of 250,000 new homes annually, 240,000 new dwellings are needed each year. The current figure falls short by 80,000. 

3. Decline in new building approvals

New building approvals dropped by 0.3% month-on-month but grew by 3.5% compared to last year.

Before January 2020, the average number of completed properties per 12-month period exceeded 200,000.

Since then, this average has fallen to around 170,000 due to an 11% decrease in approvals over the 12-month rolling period, according to April data.

Private sector house approvals fell by 1.6% in April but increased by 9% year-on-year, while apartment approvals declined by 1.1% month-on-month and 8.5% from last year.

With new apartment construction contributing the largest volume of new properties, approval rates for this type of new build need to rise.

4. Demand for new tradies

There is an immediate need for 90,000 new tradies, with an additional half a million required over the next five years to meet the target of 1.2 million new homes by 2029.

This data, from Build Skills Australia, highlights the urgency of this demand to support the housing construction industry.

Jobs and Skills Australia notes a shortage of tradespeople in all occupations except roof tilers in Victoria.

This skilled labour shortage, coupled with soaring construction material prices, is hampering the construction of new homes.

5. Rise in new housing loans

New lending for total housing increased by 4.8% in April to $29.4 billion, following a 3.8% rise in March.

This figure is 24.6% higher than a year ago.

April saw an uptick in both the value and number of new loan commitments, with owner-occupier loans rising by 6% month-on-month and 24% year-on-year.

For investors, the monthly change was 7%, and 44% compared to April last year.

Year-on-year, there was a 19% increase in owner-occupier new loan commitments and a 25% rise for investors.

This suggests growing buyer confidence and a positive outlook for rental property availability as investors return to the market in greater numbers.

What these figures tell us…

These five key metrics provide a snapshot of the Australian property market's current status and its potential future direction.

The market's resilience amid economic challenges, the steady increase in property values, the rising number of residential dwellings, the pressing demand for skilled labour, and the surge in new housing loans shows that although the market is continuing to grow there are headwinds that are hampering this growth.

As we move through 2024, these trends will likely continue, although ideally an increase in new approvals and a resolution to the skills shortage is needed to speed up the number of new properties being built.

Let me ask you something…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them?

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Australia’s wealth is highly concentrated in our housing market. The total value of the nation’s residential housing stock hit $10.4 trillion in late 2023, according to the Australian Bureau of Statistics (ABS).

Broadly speaking, the property market has recovered from the downturn in prices of 2022. Despite a series of interest rate hikes taking the cash rate to a decade high of 4.35 per cent, property prices across the nation surprisingly went up in 2023.

Alongside the constrained housing supply, economists say the strong demand for housing – fuelled by population growth – largely cushioned the housing market from the effects of higher interest rates and poor housing affordability.

Without knowing if the cash rate has peaked, or when it might come down, economists and experts are divided in their predictions for the property market in 2024 and beyond. 

Domain has predicted national house price rises of 5 to 7 per cent in 2024.

The median house price in Sydney is expected to rise by 7 to 9 per cent, in Brisbane and Adelaide by 7 to 8 per cent, and in Perth by 6 to 7 per cent.

In Canberra, a more modest rate of 3 to 5 per cent is forecast, while Melbourne and Hobart’s median is predicted to rise by 2 to 4 per cent.

A slash in interest rates would likely spark demand and activity in the housing market, said Domain chief of research and economics Dr Nicola Powell. 

“The interest rate cut is going to be one of those things that’ll probably help to change consumer sentiment,” she says. 

“Once we start to see interest rates being cut, it’ll feed into improved consumer sentiment, and once consumer sentiment starts to rise, we’ll likely see increased housing activity occur – and that is expected to happen in late 2024.”

Are house prices dropping in Victoria? 

Yes, but not by much. Melbourne’s median house price dropped 1.5 per cent over the first three months of 2024, falling to $1,032,000.

Prices have been basically stagnant for the past year, up by 0.7 per cent compared to the March quarter of 2023.

The city’s housing market peaked in 2021 when the median house price hit its record high of $1,094,000.

Meanwhile, Melbourne’s median unit price fell by 1.3 per cent over the latest quarter to $564,095. 

Along with high interest rates and reduced borrowing power, Dr Powell said negative net interstate migration and market weakness following Melbourne’s extended lockdowns had left its property market further behind than in other cities.

In regional Victoria, house prices in most council areas have taken a tumble in the past year, in some cases reversing the COVID-era gains.

What will houses be worth in 2030 in Australia? 

If only we knew! Even the most esteemed and knowledgable economists in the country have been wrong about house price predictions in recent years, so it would be nigh impossible to predict prices in 2030.

The housing market is influenced by a wide range of factors including global economics, geopolitics, and events such as wars or pandemics. The Australian political landscape also plays a significant role in house prices, with legislative changes and housing policies – such as stimulus packages for first-home buyers, or tax incentives for developers – all having an impact on supply and demand.

One of the main drivers of Australian property prices is the country’s housing shortage. Put simply, new home completions have failed to keep pace with population growth.

With the country’s population projected to increase by two million people by the end of this decade, the Labor government has announced its aim to build 1.2 million new homes by 2029. But experts believe it will likely still fall short of Australia’s housing needs.

Future lending conditions, inflation and interest rate rises or cuts will also impact property prices in the years to come.

A potential property bubble bursting in the Australian housing market has been hotly debated for many years, but fears or warnings of a looming “crash” have not come to fruition. House prices softened in 2022 after an enormous upswing following the pandemic, but the downturn was short-lived.

Dear Fellow Property Investor,

The Melbourne real estate market is buzzing with potential at the start of 2024, offering a plethora of opportunities for savvy investors and homebuyers alike. So, what suburbs will boom in Melbourne this year?

A handful of Melbourne suburbs recorded double-digit property price increases over 2023, bucking the city’s wider trend of modest growth.

Melbourne’s median house price median rose 2 per cent to $1,047,000 over the 12 months to December, and its unit price grew 4 per cent to almost $580,000 in the same period, the latest Domain House Price Report showed.

With an eye on the future, identifying suburbs with the promise of growth, affordability, and lifestyle appeal becomes crucial.

We will look into the top 10 Melbourne suburbs set to boom in 2024, alongside other noteworthy areas that promise unique opportunities.

Who will be my No #1 Best Melbourne cheapie suburb with the best capital growth potential in 2024?

You will need to watch this video to find out...

Did you know that Property Investors are swallowing up even more of the housing market?

In Australian politics there are relatively few issues outside of foreign policy that the two major parties can agree on. But there is one issue where both sides ostensibly agree: greater levels of home ownership.

In the run up to the last federal election, then Opposition Leader Anthony Albanese promised that a Labor government would help people achieve the “great Australian dream of home ownership”.

“For too long Australians who have worked hard have been locked out of the housing market by flat wages and rising prices, unable to even get a foot in the door let alone a roof over their heads,” Albanese said.

Opposition leader Peter Dutton shared similar views on home ownership with the press late last year: “the best way to empower Australians — to make them masters of their fate — is through home ownership.”

The leaders of the major parties sharing this view on home ownership is nothing new. Over 70 years ago there were debates in federal parliament not too dissimilar from todays, in which the leaders of the Coalition and Labor made their case on which party would do a better job building more new homes and getting more Australians into homes of their own.

Rhetoric collides with reality 
The peak rate of home ownership was recorded 57 years ago as part of the 1966 census, at which time 73 per cent of households owned homes. More recently, the Australian Institute Of Health and Welfare (AIHW) recorded a home ownership rate of 71.4 per cent in 1995. As of the latest data from the 2021 census, the home ownership rate has dropped to 66 per cent.

This raises an uncomfortable question for the nation’s leaders. After spending more than $20.5 billion on grants, concessions and other cash grants to first home buyers in the decade to 2021, home ownership rates have not risen, but instead have continued to decline.

Solely based on the decline in the proportion of households who own homes, there around 560,000 households who are renting today who would have otherwise been homeowners if the home ownership rate remained as it was in 1995.

Rise and rise 
Despite rising levels of home ownership being the stated priority of both the major parties their policies have achieved the polar opposite. The AIHW data instead illustrates a very different trend: the rise of the property investor.

In 1995, 18.4 per cent of households rented from a private landlord. As of 2020, 26.2 per cent rented from a private landlord and this is arguably somewhat distorted lower by the snapshot being taken during the pandemic.

If we extrapolate that on to the current number of households as determined by the ABS, private landlords have roughly 810,000 more tenant households today than they would have if the ratio of private landlord held housing to overall housing stock remained the same as 1995.

Today’s market 
According to data from the ABS, over the last 12 months 33.4 per cent of new mortgages for existing properties have flowed to property investors. In terms of new mortgages overall including construction loans and brand-new properties, that figure rises to 34.3 per cent.

By dollar value the proportion of mortgage lending flowing to investors recently hit the highest level since 2017, hitting a share of 36.2 per cent of all new housing finance.

With investors holding 26.2 per cent of occupied housing stock, this level of activity implies a growing proportion of the nation’s housing stock once more flowing to investors, unless otherwise offset by a much greater proportion of owner occupiers making fully cash purchases or investors selling out of the market at a greater rate than they are buying in.

Which raises the big question in all of this, how is the home ownership rate going to rise when the current set of incentives and policies have delivered 25 years of strong growth in the proportion of investor held housing stock instead?

Aspiration nation 
Both of the major parties like to paint themselves as the standard bearers for aspirational Australians, of folks who are trying to get ahead. But the simple reality is recipe for success is not what it once was.

In decades past, a household could work hard within the reality of their circumstances and work their way up to a median or well above median household income, then be able to purchase a home that reflected that.

In 1999, a household in the 80th percentile for income (higher than 80% of households), could purchase a home that was valued in the 80th percentile. Meanwhile the median earning household could purchase the median house. This is based a household having a 20 per cent deposit, additional cash for stamp duty and spending 25 per cent of gross income on the mortgage.

Today the median earning household can only afford 13 per cent of homes and even more affluent households in the 80th percentile are now competing for median priced homes. In states like NSW and Victoria its even worse. In NSW, households in the 80th percentile can only afford 1/3 of homes, while in Victoria less than half are affordable for these more affluent households.

Reality check 
Both Labor and the Coalition speak of hard work and the importance of home ownership, yet neither has the makings of a credible plan that would see home ownership rates increase back toward levels seen in the mid-1990s, let alone the all-time peak.

It was once said that doing the same thing again and again, and expecting a different result was the definition of insanity. After spending over $20 billion on first homebuyer support mechanisms over the past decade and actually lowering the home ownership rate during that time, it’s clear a different strategy is needed.

Ultimately, where we go from here is in the hands of the electorate. For decades political leaders have talked the talk on home ownership, then failed to walk the walk. Up until now that arguably hasn’t had a major political downside for the major parties, but with the issue of housing fast becoming one of the hottest in Canberra and around dining tables, one wonders if that will change.

Dear Fellow Property Investor,

Australian big city house prices are tipped to surge by more than a third during the next three years with Sydney's median price set to hit the $2 million mark.

The increases forecast between now and June 2027 would be even more significant than the price rises since the onset of Covid four years ago, which covered interest rates aggressively rising from record-low levels as immigration soared.

Oxford Economics Australia is forecasting that Sydney's median house price will hit $1.934million by June 2027, with Perth reaching $1million. 

The median price in Melbourne and Brisbane was also expected to reach seven figures during the same period as prices rose between a third and 43 per cent.

Even before the rate cuts, Australian home lending has increased 13.3 per cent during the past year in a sign buyers fear missing out on more price rises, new official lending figures released on Monday revealed. 

This means average-income earners on a $98,218 salary, and with plenty of savings for a 20 per cent mortgage deposit, are being urged to shop around now for a suburban house or inner-city unit under $640,000 to avoid missing out on the boom. 

Until the Reserve Bank cuts interest rates, possibly from late 2024, banks are only able to lend a borrower 5.2 times their pay before tax. 

But once the rate cuts start, banks will be able to lend more, leading to even higher prices, with values tipped to particularly soar at the more affordable end of the market.

'The November 2023 cash rate hike to 4.35 per cent is expected to be the last this cycle, with the next movement downward,' Oxford Economics Australia said.

'Anticipated interest rate cuts from late 2024, overlaid by a sustained housing shortage, are set to accelerate price growth in 2025.'

Australia's net overseas migration level hit a record high of 548,800 in the year to September but Oxford Economics Australia is expecting that to slow to 410,000 in 2023-24 and 250,000 by the 2026-27 financial year. 

'Net overseas migration is driving the current surge in Australia's population growth,' Oxford Economics Australia said.

'While three-quarters of new overseas arrivals enter the rental market, which relies on investor supply, there remains a channel that is adding to the competition for established properties.'

The more affordable end of the property market is tipped to soar as baby boomers downsize and those aged 30 to 45 look to escape rising rents.

'Strong growth in rents is likely having a spillover effect, encouraging some households to enter owner-occupation,' the report said. 

Price rises are tipped to grow by at weaker pace in cities like Adelaide and Hobart, that boomed during the pandemic but no longer receive a huge influx of interstate migration. 

Canberra, now Australia's second most expensive capital city market after Sydney, was tipped to slip into fourth place behind Melbourne and Brisbane by mid-2027 - even with a typical house price in the seven figures.

Let me ask you something…

Do you have a game plan for 2024? 

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them? 

So, what are you waiting for? 

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

In the four years since the pandemic began, home prices around the country have staged a remarkable feat.

From fears of sharp falls through the pandemic, to predictions of steep declines when interest rates began to quickly climb, home prices have defied the expectations of many, surging 39.9% nationally.

Throughout this four-year period, multiple factors have influenced and shifted housing trends, with the housing market cycling through different phases as a result of the pandemic's wide-ranging economic and social impacts.

The supply of properties for sale, population growth, building activity, rental market conditions, interest rates, and interstate and regional migration have all affected home price growth, as well as how it has been distributed Australia-wide since March 2020.

And at the same time these factors have faced a complex interplay of economic policies, consumer behaviour, and broader societal changes in response to the pandemic.

In the past year capital city markets have outperformed regional areas (7.64% versus 4.67%), but comparing growth since the pandemic onset, regional home prices have significantly outperformed their capital city counterparts in every state except WA and NT.

This outperformance was largely accumulated throughout the pandemic property price boom.

At the very onset of the pandemic, there was a pause in the housing market as lockdown restrictions, closed borders and uncertainty weighed, with many thinking home prices would fall.

In fact, the opposite occurred. Housing demand surged, and along with record low interest rates and limited stock for sale, combined to drive a price boom that saw national prices growing at the third-fastest rate in Australia’s history.

Let me ask you something…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them?

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!