Konrad Bobilak Logo

CBA and Westpac forecasts 5% rise in Melbourne house prices for 2024!

Dear Fellow Property Investor,

Did you known that despite all the Scaremongering by the largely uneducated media, the Australian real estate market showed defiant resilience in 2023, with combined housing index for all capital cities growing by 8.3% for the year ending 2023!

How dare it!

Index value - National, dwellings

And yes, I must admit that 2023 was a test of resilience for housing values and financial stability more broadly. The performance of the housing market has been stress tested under the pressure of climbing interest rates, stretched affordability and the transition of many mortgage holders from low fixed rates to high variable-rate loans. Home values were not only resilient under these conditions but reached new record highs.

Annual change in home values

But there was definitely no sign of Armageddon or any type of ‘Blood Bath’ in sight!

In fact, many of Melbourne’s top eastern and bayside suburbs stubbornly defied the odds, and performed quite well, with many hitting double digit growth in 2023, according the latest ‘Best of the Best’ December 2023 Report from Core Logic;

Strongest 12 month growth

Now I don’t know about you, but I am happy with a 13.2% annual capital growth appreciation in Murrumbeena…

And guess what, to further negate these doomsdayers, not only did the Melbourne property market refused to crash in 2023, but rental yields surged at an unprecedented levels, in ‘Key Suburbs’, due to a chronic shortage of new stock - and over 1000 developers going bust over the last three years, as a result of the Dan Andrews imposed lockdowns (send him a thank you now for saving our lives from the nasty Bat virus when you get a chance!) …

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 by the way has already bottomed out in November 2022), 

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!

Investors Prime

Interested in learning more about property investing in Australia? Please visit our main website InvestorsPrime.com.au for loads of free resources, articles, videos and more to help you on your investing journey.

© 2024 Konrad Bobilak | All Rights Reserved
Investors Prime Real Estate | Level 1 1/8-12 Alma Rd, St Kilda VIC 3182 | P: 1300 89 55 44