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  • Writer's picturepeterward4

Asciential Insights JULY 2024


Family relaxing at the lake

In this edition

  • Perth property market not slowing anytime soon

  • Property prices tipped to hit records - Domain forecasts

  • Proptrack Home Price Index results - June 2024

  • Off the property track

 
Postive and negative gears

Perth property market not slowing anytime soon

Despite some reports suggesting a slowdown, the Perth property market continues to show strong growth, driven by low supply of listings, strong affordability, and low rental vacancy rates. The market is expected to maintain its trajectory until mid-2025, with factors such as the fastest growing population in the country, above-average wage growth, and high commodity prices supporting this trend.


API's report provides some good detail - although informed investors will understand that Corelogic's comment "...the driving force behind the...property markets' momentum is the low supply of listings relative to sales" leaves out the all-important affordability factor which must exist with low supply if price growth is to occur.




 

Property prices tipped to hit records - Domain forecasts

This API article provides a couple of nice tables showing median house price forecast estimates by Domain, but also details a 'two-speed market'.


 

George Titch - genius on economic cycles

PropTrack Home Price Index results - June 2024

Perth growth more than double that of all capitals except Brisbane and Adelaide - both of which it is well ahead of.


 

Off the property track...

This month, from Visual Capitalist:




 




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