Securing the Best Property Deals in a Buying Market
Australia’s Housing Market: A Five-Year Transformation
Surge Pricing recently came up with a new report on Australia’s economy, focusing on the housing price having a new low surge of 1.7%, now showing signs of surge buying. Further records of plummeting interest alongside government spending and expansive living saw a boom in the housing market from mid-2020 to April 2022. Looking towards the future, funds aside, it will pay out soon, alongside a 14.5% surge in plummeting sectors. Experts predict that home values will soar to 38% nationally.
In 2025, national home values are set to stand at 38% while predicted to soar around 227,000 concurrent with the dwelling median price. And by the look of it, these opportunities stay on the startling side of the spectrum.
Source: (www.corelogic.com.au)
Where to Find the Best Property Deals
1. Regional Markets Offering Strong Value
The big capitals are nothing when compared to the regional areas overlooking them. Outperformed in capital city markets, regions are set to face a staggering 56.3% boost over the next few years alongside the metropolitan area of 33.6%.
Demand for lifestyle regions surged with Byron Bay (+74.7%), Ballina (+70.8%), and Gympie (+70.3%) recording the most growth.
However, newer regional hotspots, including Townsville, Rockhampton, Gladstone, and Western Australia’s coastal cities, are emerging as promising long-term affordable alternatives.
2. Houses vs Units – Which One Gives More Bang for Your Buck?
The prices of houses surged by 44.5% in the last five years, higher than the 20.1% rise in unit prices. Increased demand for space due to lockdowns increased house values by 38.5% during the pandemic boom.
Shifts in affordability make units a more attractive option, especially where the price difference becomes negligible. Buyers seeking optimal locations and affordability might have better prospects in the apartment market.
3. Capital Cities with the Best Buying Opportunities
Perth (+75.9%), Adelaide (+73.1%), and Brisbane emerge as the frontrunner cities with the most price growth since 2020, with Brisbane recording an increase of +68.7%.
On the other hand, Melbourne recorded the least growth (+8.4%), making it one of the more affordable capital cities. The city suffered from lockdowns, weak demand from investors, and shifting migration patterns, which brought down the market and gave buyers the chance to secure property at competitive prices.
Market Outlook
Even though housing prices have become relatively stable, the increasing concern of affordability is still an issue because wages are not increasing as fast as prices. Some factors affecting these market conditions will be the rate of population increase, supply restrictions, and changes in interest rates.
Sellers should take advantage of these market stability periods to prepare and plan to buy right before prices rise again. By capitalizing on emerging markets, attractive rental yields, and low negotiated prices, sellers can secure the best deals by 2025.
As the property market has bottomed out, there is an incredible opportunity for investors to purchase high-growth properties before prices inflate again. At VASTTU, we ensure you are pinpointed with high-growth properties that are aligned with your objectives. In collaboration with our experts and preeminent listings only available to us, we enable you to make timely and lucrative decisions in light of the shifting picture of the market.
Call us at 0402 427 455 or book your consultation to start your journey with Vasttu.
