In this edition
Australia exceeds international average house price growth
November vacancy rates - up a little in unaffordable markets
Property. What's in store for 2024?
Brisbane now more expensive than Melbourne
Proptrack Home Price Index results - December 2023
Australia exceeds international average house price growth
Australia's house price growth has been a little slower in the past 8 or so years - due in no small part to record low inflation, low interest rates, and low wages growth. We've clearly turned the corner with Knight Frank now reporting Australia at 18th highest out of 56 global markets.
November vacancy rates Up a little in unaffordable markets
Vacancy rates have edged upward, but it's no surprise that it's happening in those markets that are unaffordable.
Property: What's in store for 2024?
There is always at least one major capital either in growth, or about to go into growth - and 2024 is no different. Figuring out which one is Asciential's specialty.
The Australian Property Investor Magazine has quite a nice wrap up - showing that, with a median house price less than 50% that of Sydney, Perth continues to be the only major capital with strong growth and rent performance, and plenty of room for more growth.
Brisbane now more expensive than Melbourne
In a notable shift, Brisbane has outpaced Melbourne in median property value for the first time since 2010. This article by API explores Brisbane's robust real estate growth, now ranking as Australia's third most expensive market. Published earlier this month the article provides a concise yet detailed insight into the factors driving Brisbane's property market surge in 2023. Investing there in the past 3-5yrs has certainly reaped plenty of rewards for Asciential investors. This is a nice wrap-up to a market whose growth cycle has now ceased.
PropTrack Home Price Index results - December 2023
Perth was again the standout with annual growth sitting at 14.75% - well ahead of Sydney at 7.72%, Melbourne at 0.89% and Brisbane at 10.45%.