Property Investors warned now is a ‘critical’ moment to secure an investment property before Christmas, while prices still remain affordable…

Dear Fellow Property Investor,

Melbourne home buyers have been warned it’s a “critical moment” with just days left to secure a home before Christmas.

Property experts are advising to “seize the opportunity now”, with Melbourne offering some of the most competitive deals nationally.

However, experts are warning a potential interest rate in the new year will bump up prices.

With 1369 properties slated for auction it is expected buyers will remain very much in control.

PropTrack senior economist Paul Ryan said Melbourne’s auction clearance rate from last week sat at a steady 58 per cent, “signalling a strong buyer’s market”.

“Buyers are feeling confident, playing sellers off against each other in hopes of securing favourable deals,” Mr Ryan said.

“As we hurtle towards the New Year, with over 1300 auctions set for this weekend, Melbourne buyers face a critical moment to get into the market now.

“Those buyers who capitalise on the current surplus of stock are likely to secure homes before the market activity drops over the Christmas period.”

Buyers advocate Cate Bakos said the amount of homes on the market presents a “golden opportunity” to wrap up the perfect pre-Christmas gift – a new home.

“We’ve had the most stock on the market since October 2012 – so from a supply and demand point of view it’s perfect for buyers,” Ms Bakos said.

“As we get closer to Christmas buyers will get wrapped up in their plans and their attention span won’t be focused on property shopping.

“From a vendors perspective they might want to sell their properties before Christmas for financial reasons.”

So let me ask you a question…

Do you have a game plan for 2024 and for 2025? 

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the recovery phase of the Melbourne property cycle (which, in my opinion, is RIGHT NOW!)

Or, will you join them? 

The choice is yours!

So, what are you waiting for?

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

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

Australian home prices have surged to new heights in October, marking the 22nd consecutive month of growth despite ongoing affordability challenges.

National home prices increased by 0.26 per cent in October, with the combined capital cities now up 5.85 per cent over the past year.

Melbourne emerged as the strongest performer among capital cities, with prices jumping 0.49 per cent after six months of decline.

REA Group Senior Economist, Eleanor Creagh said price falls have started to reverse in Melbourne, with buyers out in force for the peak of spring selling season.

Here are some of Melbourne’s best performing suburbs in the September quarter of 2024;

Interested in getting educated on Australian property investing?

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

Click HERE to reserve your seat now!

Are you thinking of buying Melbourne Investment Properties in 2024 whilst they are still cheap?

Remember that not all Melbourne property is created equal; you need to know where to buy, what to buy, and which suburb represents the best value for money!

Dear Fellow Property Investor,

Australia’s housing market has had a mixed start to spring, but PropTrack data has revealed a number of suburbs around the country that have seen massive growth over the past 12 months.

The data looked at Melbourne suburbs with at least 100 sales for the year, revealing that some areas had experienced boom-like growth cycles.

Melbourne’s housing market shows resilience with significant growth in suburbs like Ivanhoe, Diamond Creek, and Coburg North. Ivanhoe leads the housing growth, while Blackburn, Box Hill, and Surrey Hills witness strong unit growth driven by overseas interest and skilled migrants.

Melbourne’s market has faced unique challenges, including unfavourable investment taxation and changes to tenancy laws making investment properties less attractive.

Leading house price growth over the last 12 months was Ivanhoe (17.3 per cent), Diamond Creek (13.2 per cent) and Coburg North (12.8 per cent).

Blackburn (22.1 per cent), Box Hill (11.1 per cent) and Surrey Hills (11 per cent), led unit growth.

“With higher interest rates, we’ve seen sales at higher price points and a higher turnover in the top quartile.

“With units, Blackburn, Box Hill, and Surrey Hills have all seen significant overseas interest, especially since the Covid lockdowns – skilled migrants have been arriving in these areas and the hospital precinct.“

So let me ask you a question…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the recovery phase of the Melbourne property cycle (which, in my opinion, is RIGHT NOW!)

Or, will you join them?    

The choice is yours!

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!

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,

With property prices reaching record highs across the country, the humble home has become the main breadwinner in many households. In certain suburbs, homes are earning multiple times the average wage.

National property prices hit new record highs in February, up 6.15% compared to a year ago, the fastest annual rise since July 2022, according to PropTrack.

For hundreds of thousands of Australians, that growth means their homes may have generated more income than their own salaries over the past year.

New analysis has used PropTrack's automation valuation model (AVM) to reveal the suburbs around the country where the median property price has grown by more than the average Australian wage.

According to ABS data released in February, the gross weekly ordinary time earnings for full-time adults was $1,888.80 in November 2023, which translates to average annual earnings of $98,218. Given the family home is exempt from the capital gains tax, an increase in value stretches even further than the average annual wage on a dollar-for-dollar basis. 

Almost 900 suburbs around the country saw their median property price grow by more than $98,218 in the year to February.

The suburbs that saw the steepest hikes in value were the premium pockets in capital cities, which is unsurprising according to PropTrack senior economist Paul Ryan.

"In exclusive suburbs the same percentage increase will lead to a larger increase in terms of dollar value. And remember too, some of those premium suburbs saw quite sharp reductions in prices in 2022 so this is prices snapping back."

But solid price growth also happened in more affordable areas, Mr Ryan added.

"Over the past year or so, we've seen even and consistent growth within cities. While we're still seeing strong demand and strong growth in premium suburbs, this is happening in more affordable suburbs too."

Melbourne property prices grew by a relatively modest 1.33% over the year, but in the exclusive inner-Melbourne suburbs of Toorak and South Yarra, houses gained $237,486 and $136,311 respectively.

Here are the suburbs in Melbourne where properties have earned the most this past year:

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,

Did you know that a mix of middle and outer Melbourne suburbs can be revealed as the city’s best performing over the past five years, after the house price medians grew as much as 40 per cent in some locales.

Unit prices grew the most in Mitcham, where they jumped 21.3 per cent over the five years to $752,000. It was followed by Highett (19.6 per cent to $658,000) and Brighton (17.9 per cent to $1.2 million).

Melbourne’s overall median house price rose 22.1 per cent in the same period. Although it remains below its peak, the market has somewhat improved in recent weeks as clearance rates point to modest price rises and home buyers show renewed activity in expectation of a Reserve Bank rate cut later in the year.

The analysis excludes the Mornington Peninsula, but growth was even stronger in popular sea-change destinations that swelled during lockdowns such as Blairgowrie, Sorrento and Rye, which were up 66.3 per cent, 52.9 per cent and 52.8 per cent, respectively.

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 Real Estate Investing Fast Track Weekend!

Click HERE to reserve your seat now!

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!

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.

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;

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!

Dear Fellow Property Investor,

Australian property prices are continuing to rise, with capital cities now hurtling towards record-high prices for houses and units.

Domain’s September House Price Report found the housing market was near full recovery following the downturn in 2022.

Across the capitals, house prices are just $2,000 short and units $5,000 shy of hitting new record highs.

In Sydney, the median price of a house is now $1,578,099, in Melbourne it is $1,032,266 and in Brisbane it is $848,752.

For units, the median price in Sydney is now $781,024, in Melbourne it is $573,067 and in Brisbane it is $495,143.

“September’s quarter confirms all Australian capital cities are in recovery or at a price peak,” Domain chief of research and economics Dr Nicola Powell said.

“Sydney continues to lead the recovery, with Brisbane close by. By the end of the calendar year, house prices in Sydney and Brisbane are anticipated to recover fully from the 2022 downturn, reaching new records.”

Adelaide, Perth and Sydney led the charge for house price gains over the September quarter, while Adelaide, Perth and Melbourne saw the biggest unit price gains.

“Adelaide and Perth’s house prices are at an all-time high. For units, it’s Adelaide and Brisbane. These record-high numbers are driven by a series of factors: interstate migration, record levels of overseas migration, a tight rental market, and a chronic undersupply,” Powell said.

Despite the rise, the pace of growth, quarter on quarter, has eased by roughly a third.

Stretched affordability was slightly dampening the pace of growth, Powell said, with quarterly growth easing by roughly one-third.

“If mortgage rates weren’t as high as they currently are (5.98 per cent for a new owner-occupied home loan), price growth would be faster with the current housing undersupply,” Powell said.

Interested in learning more?

Reserve your place and join me and 55 like-minded property investors for the last Real Estate Investing Fast Track Weekend for 2023!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

A major bank is expecting house prices to run hot for the rest of the year - but renters already struggling with the cost of living will battle to keep a roof over their heads.

NAB has increased its near-term forecast for the capital cities to an eight percent rise in house prices, up from the previous forecast of 4.7 percent.

While the bank predicts price gains will ease in 2024 back to five percent, this still represents a whopping 13 percent growth in what property buyers need to fork over in just two years. 

Adelaide homes are expected to gain 8.6 percent in value for the rest of 2023 and then slow to a 6.2 percent gain next year.

PropTrack senior economist Eleanor Creagh told realestate.com.au that a lack of choice was driving up prices in the smaller capitals.

However, Ms Creagh said another smaller capital, Hobart, was not performing so strongly with prices increasing by 6.6 percent from the March 2022 peak.

'However, this comes after several years of outperformance as well as strong growth during the pandemic. Home prices in Hobart are still up 38.4 per cent since March 2020, ' Ms Creagh said.

NAB predicts Hobart prices will actually dip 3.3 per cent this year and be flat in 2024 - meaning there's at least some hope for first-home buyers looking to get their foot on the property ladder.

Sydney values are set to increase by 11.6 per cent in 2023 before slowing to five per cent in 2024.

Melbourne is only the capital predicted to see the price increases accelerate next year from 4.7 per cent to 5.5 per cent.

The housing shortage continues to spell bad news for renters with modelling released in August by Suburb trends forecasting many tenants could face increases of over $100 per week by next year.

In Dee Why, on Sydney’s northern beaches, rents are forecast to increase by a whopping more than $300 a week and $200-plus increases are also forecast for other popular areas in the city.

Queensland renters living in Surfers Paradise, Broadbeach and Isle of Capri can expect to paying an extra $170 a week by 2024.

Houses and units in the Victorian capital's suburbs of Port Melbourne, South Melbourne and Southbank are facing the steepest increases in that state, with average rents forecast to go up by $165!

In hundreds of other Aussie suburbs, rents are forecast to rise by less than $50 per week.

Interested in learning more?

Reserve your place and join me and 55 like-minded property investors for the last Real Estate Investing Fast Track Weekend for 2023!

Click HERE to reserve your seat now!