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Regional Victoria’s property market is showing clear signs of recovery, with buyer activity and transactions on the rise after years of decline. Improved sentiment, strong migration trends, and economic momentum are driving renewed demand and setting the stage for future price growth.
Melbourne’s real estate market, despite recent challenges like high taxes and lingering effects from prolonged lockdowns, is poised for a potential growth spurt driven by a strong state economy, major infrastructure projects, and population growth, making it an opportune time for investment.
This year has followed the usual pattern, but as we emerge from the summer break, we can see that lead indicators are showing some renewed energy in the market. Read more in attachment.
Summary of 2024
The apartment markets across the Capital Cities of Australia remain distorted and whilst
development activity in locations such as the Gold Coast has been strong, others such as
Melbourne have in fact broken down. Read more in attachment.
Australia’s property market has experienced extraordinary growth in the past four years, with many locations achieving price growth that has not been heard of in the past. While price growth may have softened in some areas in the past six months, there are still opportunities for investors to find suburbs set to tip over into million-dollar markets. Combining the research expertise of the Hotspotting team and the ground-truthing skills of Property buyer’s local buyers agents, we have been able to pinpoint a top selection of locations for savvy investors.
The Exodus to Affordable Lifestyle trend, driven by remote work, affordability, and strong regional growth, continues to boost property markets across Regional NSW, with key areas like Wollongong, Newcastle, Albury, and Tamworth outperforming Sydney and solid growth expected in 2025
Adelaide remains one of Australia’s top-performing property markets, with consistent price growth, strong transaction levels, and a median house price increase of 13.6% in 2024. With affordable prices, rising rents, and continued economic strength supported by $25.6 billion in infrastructure spending, it offers significant opportunities for investors in 2025.
The unit market in Greater Sydney is on the rise, exceeding the performance of house markets and making up more than half of all residential sales. Suburbs with strong sales activity tend to have active unit markets, and the trend has accelerated in the past four years. Even in top-end municipalities, unit markets are leading in sales activity, while outer-ring areas are seeing a surge in the market activity of both houses and units.
All the key indicators suggest that the Perth boom is past its peak and subsiding.
Read document for full explanation…
Residential – December 2024
The Month in Review identifies the latest movements and trends for property markets across Australia.
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