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  • Writer's picturepeterward4

Ascientials Update DECEMBER 2023


Family relaxing at the lake

In this edition

  • National property market - record high

  • Perth on investor's radar

  • Australian Housing Upswing

  • Interest Rates 2024 - Big four banks forecast

  • Proptrack Home Price Index results - November 2023

 
Postive and negative gears

National property market - record high

Amid a surging property market nearing record highs, and listings scarce, investors are navigating a challenging yet promising landscape. With prices consistently climbing and rental markets tightening, the strategic investor stands to capitalize on Australia's robust property demand and looming growth forecasts.


 

Perth on investor's radar

Perth's property market is soaring, with a median house value of $646,700 and listings at a 30-year low. As competition spikes, the city also leads in international business traveler growth, adding to the unprecedented demand in an already tight market..


 

Australia map with pin at Perth

Australian housing market upswing

News from Australia's housing market: CoreLogic's latest data reveals significant value increases in most house and unit markets nationwide. Despite challenging economic conditions, cities like Sydney, Melbourne, and Brisbane show diverse and resilient market trends - but Perth is leading the way.


Let's dive into what this means for Australia's real estate landscape.


 

Australia map with pin at Perth

Interest Rates 2024 - Big four banks forecast

In our May newsletter I referred to the reliability of the yield curve in forecasting where official cash rates are heading - and that would be down in 2024. This continues to be the expectations of the big four banks...

  • CBA - Peak of 4.35% in November 2023, then dropping to 2.85% by May 2025

  • Westpac - Peak of 4.35% in November 2023, then dropping to 2.85% by December 2025

  • NAB - Peak of 4.60% by February 2024, then dropping to 3.10% by Feb 2026

  • ANZ - Peak of 4.35% in November 2023, then dropping to 3.35% by June 2025


 

George Titch - genius on economic cycles

Proptrack Home Price Index results - November 2023

This month's price index figures show Perth continues to grow well ahead of the pack with house price growth now at 12.76% for the past 12 months.


 




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