Ray White CHK

🏠💥 Explosive Growth: Aussie Suburbs Where Property Prices Skyrocketed in 2024! 🚀💰 Property prices in Australia have seen a remarkable surge in 2024, with some suburbs experiencing growth rates up to 10 times the national average. Elizabeth South in Adelaide led the pack with a staggering 56.7% increase in house prices, pushing the median to $470,000. Affordability emerged as a key factor, with many top-performing suburbs boasting median prices under $600,000. Perth and Adelaide dominated the lists, reflecting their status as the strongest capital city housing markets in recent years. In Perth, suburbs like Hillman and Camillo saw house price increases exceeding 40%, while Kelmscott's unit prices jumped by over 50%. However, it wasn't just affordable areas that saw growth. Coastal and inner-city suburbs with multi-million dollar price tags also made the list. South Brighton in Adelaide recorded a 52% increase to $1.345 million, while Byron Bay's median house price surged 45.5% to $3.5 million. For units, Little Bay in Sydney's eastern suburbs topped the chart with a 53.7% price increase, bringing the median to $1.356 million. The limited supply of new developments in the area contributed to this dramatic rise. As housing affordability reaches its worst level in at least three decades, buyers are increasingly looking to more affordable areas and suburbs, driving up prices in these locations. Click on the link below to read the full article: https://lnkd.in/gJByRAn7

🏠💰 2025 Property Forecast: Slowing Growth Opens Door for Buyers 🔑🌟 Home prices in Australia are expected to rise modestly by 1% to 4% nationally in 2025, creating a potential window of opportunity for buyers. This slower growth rate, compared to the 5.5% increase seen in 2024, is attributed to high interest rates, affordability constraints, and increased housing stock. Perth and Adelaide are predicted to lead capital city growth at 3-6%, while Melbourne prices may remain relatively flat. The upcoming federal election and delayed interest rate cuts are likely to keep price growth in check early in the year. However, anticipated rate cuts later in 2025 could stimulate demand and potentially lead to stronger price growth. Click on the link below to read the full article: https://lnkd.in/g67k-4jj

🏠💰 Top 10 Aussie Suburbs for Property Investors in 2025 🔥📈 REA Group's hot 100 suburbs list for 2025 reveals prime investment opportunities across Australia. Broome leads the pack with impressive rental yields of 7.2% for houses and 7.7% for units, while other standout locations include Rockhampton, Braitling, and Geraldton. These suburbs offer a mix of high rental yields, affordability, and strong growth potential, making them attractive options for savvy property investors looking to capitalize on the rebounding market. Click on the link below to read the full article: https://lnkd.in/g2FzbyGs

🏖️Where You Should've Bought: Coastal Hotspots Lead Decade-Long Price Surge🏠💰 Coastal and lifestyle destinations in Australia have outperformed major cities in property price growth over the past decade, according to new PropTrack data. Byron Bay tops the list with an astounding 15.2% average annual growth rate, turning $850,000 homes into $3.5 million properties in just ten years. Queensland and New South Wales dominate the rankings, with popular spots like Noosa Heads, Jindabyne, and various Gold Coast suburbs showing remarkable long-term value appreciation. The trend reflects a growing preference for lifestyle-oriented locations, boosted by the pandemic and increased remote work opportunities. While recent market conditions have varied, experts emphasize the importance of considering long-term trends when making property investment decisions Click on the link below to read the full article: https://lnkd.in/gnuMNrYN #realestate #property #realestateagent #sydney #melbourne #brisbane #perth #adelaide #goldcoast #australia #forsale #luxuryrealestate #investment #homeforsale #justlisted #sydneyrealestate #melbournerealestate #australianproperty #realestateaustralia #propertyinvestment #firsthomebuyer #househunting #openhouse #luxuryhomes #realestatelife #bondi #manly #cronulla #easternsuburbs

‘Desperately needed’ rental homes hit the market as BTR delivers the goods Thousands of new rental apartments have hit the Australian market in recent months, as Build-to-Rent (BTR) operators open their doors and add much-needed housing supply across the country. The year 2024 has been a record-breaking one for Australia's emerging BTR sector, with over 5,000 rental apartments becoming available to tenants so far. This influx of purpose-built rental housing comes at a crucial time, as the national rental vacancy rate stood at a mere 1.36% in October, significantly below the 2-3% average seen in normal times. The rental shortage has driven up costs for tenants, with the Australian median weekly rent rising 7% over the year to September, reaching $610, according to PropTrack. Notable BTR Developments A) Melbourne's Inner North - Local Residential opened a $380 million development in Kensington, Melbourne, adding 477 rental apartments to the market. - Early leasing has been positive, with over a third of the first stage already leased B) South Melbourne - Greystar opened a $500 million BTR project, providing 700 new rental apartments. C) Melbourne CBD and Docklands - Home's new Docklands building introduced nearly 670 renter-only apartments in October. - Mirvac opened 474 renter-only apartments in the Melbourne CBD in August. Industry Insights Richard Temlett, national executive director at Charter Keck Cramer, noted that it has been a bumper year for the BTR sector. He highlighted the desperate need for rental supply and mentioned that BTR operators are experiencing high levels of interest and enquiry from potential renters. The federal government has recently secured tax changes to incentivize foreign investors to construct more BTR apartments in Australia. These law changes are estimated to deliver 80,000 new rental homes over the next decade. Current BTR Landscape in Australia According to Charter Keck Cramer's estimates: - Over 10,000 BTR apartments have been completed - More than 8,000 are under construction - Over 21,000 have received planning approval The influx of BTR apartments is providing much-needed relief to the tight rental market, offering renters more options and potentially helping to stabilize rental prices in the long term. Click on the link below to read the full article: https://lnkd.in/gggbpf_Y

🏦💰 RBA Holds Rates: Blue Christmas for Borrowers 🎄❌ The Reserve Bank of Australia (RBA) has decided to maintain the cash rate at 4.35% for the 14th consecutive month, dashing hopes for a pre-Christmas rate cut. This decision comes as core inflation remains stubbornly high, despite recent progress in curbing headline inflation. Key points from the RBA's decision: - Economists unanimously expected the rate hold, with major banks forecasting the first rate cut to occur in May 2025 or later. - Underlying price pressures, sticky inflation components, and a resilient labour market have prevented an interest rate reduction this year. - The RBA continues to target a sustainable return to its 2-3% inflation target range. Governor Michele Bullock emphasized that cost of living pressures remain a burden on all Australians, stating, "We haven't had a sustained period of high inflation for more than 30 years. It's not familiar to people." Looking ahead, the RBA will make its next decision on the cash rate in February 2025, which will be the first under its new split board structure. This change aims to improve the bank's governance and decision-making processes. #RBAHoldsRates #CashRate435 #NoChristmasRateCut #AusEconomy #InterestRates #CostOfLiving #InflationBattle #MortgageHolders #HousingMarket #RBADecision #EconomicOutlook #RBABoardReform #MicheleBullock #AustralianEconomy #FinancialNews

🏠Housing Affordability Hits Record Low in Australia💸 Australian housing affordability has plummeted to an all-time low, according to the latest Housing Affordability Report from the Real Estate Institute of Australia (REIA). The September quarter of 2024 saw the proportion of median family income needed to meet average loan repayments rise to a staggering 48.6%, the highest level since REIA began monitoring housing affordability in 1996. Key Findings - Average monthly loan repayments surged to $5,269, up 1.6% over the quarter and 10.3% year-on-year. - The median family income stands at $2,501 per week. - First-home buyers face an average loan size of $536,561, up 0.8% over the quarter and 6.7% year-on-year. - Rental affordability also declined, with 24.9% of income now required to meet median rents. Market Performance - Sydney and Melbourne: Experienced subdued growth and slight annual decline, respectively, due to affordability constraints and increased stock levels. - Brisbane, Adelaide, and Perth: Emerged as top-performing capitals with strong annual growth, benefiting from relative affordability and strong demand. - Hobart: Remained largely flat - Darwin: Stabilized after earlier declines - Canberra: Posted modest growth Factors Contributing to Affordability Crisis - High Interest Rates: Despite the RBA maintaining the cash rate at 4.35%, the standard variable interest rate remained at 8.8% - Population Growth: Continued population increase has supported property prices despite affordability challenges - Supply Constraints: Limited housing supply has underpinned property prices - Rising Construction Costs: Higher building expenses have driven demand towards lower-value market tiers Impact on Buyers - First-home buyers saw a 3.9% decrease in new loan commitments compared to the previous quarter - Only 10% of the housing market is considered affordable for median-income households, down from 40% in 2022 - Households in the 75th income percentile, earning $172,000 annually, find only half the market affordable Future Outlook While ANZ Research anticipates a cash rate reduction to 3.6% by February 2025, potentially easing mortgage burdens, experts caution that any gains could be offset by increased credit demand and renewed upward pressure on home values. REIA President Leanne Pilkington emphasizes the need for targeted policy interventions to address housing supply and affordability issues, warning that without meaningful actions, homeownership will remain an increasingly elusive goal for many Australians. Source: https://lnkd.in/gCN8bN8Q

🏘️💰 8 Must-Know Trends for Aussie Property in 2025 🔮🇦🇺 Australia's property market is set for significant changes in 2025, with eight key trends shaping the landscape. Interest rate cuts are expected in the latter half of the year, though the timing depends on inflation and economic factors. House prices will continue to rise, albeit at a slower pace, with Perth, South-East Queensland, and Adelaide showing strength. The luxury market is experiencing a shake-up, with the Gold Coast overtaking Melbourne as the second most expensive market after Sydney. A "Golden Arc" is emerging from the Gold Coast to Brisbane to the Sunshine Coast, challenging traditional property hierarchies. Regional Australia's million-dollar club is expanding, with more areas joining the elite group. In commercial property, retail is poised to outperform other sectors, while the secondary office market faces challenges. Private investors are expected to drive commercial property activity as interest rates potentially ease. Click on the link below to read the full article: https://lnkd.in/gBHx34Xv #RealEstate #Property #HomeForSale #RealEstateAgent #Realtor #RealtorLife #Investment #HouseHunting #DreamHome #JustListed #HomeInspo #PropertyPorn #RealEstateLife #HouseGoals #HomeSweetHome #CurbAppeal #InteriorInspo #PropertyStyling

🏠💰 Brisbane's Golden Streets: Where the Rich Call Home 🌟 Brisbane's wealthiest residents are shelling out up to $7 million for homes on the city's most exclusive streets, with Macquarie Street in Teneriffe topping the list. An analysis by Ray White Group reveals that the median property price on this coveted street is a staggering $6.5 million, significantly higher than Teneriffe's overall median of $4.105 million. The inner-city suburbs dominate the list of Brisbane's richest streets, with Virginia Avenue in Hawthorne and Quay Street in Bulimba following closely behind. Meanwhile, at the other end of the spectrum, Golf Links Road in Rocklea offers the most affordable properties, with a typical house price of just $350,000. As the city's property market continues to heat up, even these once-affordable areas are seeing significant price growth, driven by buyers priced out of more expensive neighborhoods. Click on the link below to read the full article: https://lnkd.in/gBFNh63q #BrisbaneProperty #LuxuryRealEstate #BrisbaneRealEstate #MillionDollarListing #TenerifffeLiving #BrisbaneLuxury #PropertyInvestment #AustralianRealEstate #DreamHome #BrisbaneLife #LuxuryListings #QueenslandProperty #CityLiving #RiverViews #BrisbaneArchitecture #PrestigeHomes #AussieProperty #RealEstateAustralia #BrisbaneCBD #PropertyGoals #InteriorDesign #LuxuryLifestyle #BrisbaneCity #MillionaireMansion #PropertyStyling #BrisbaneInvestment #AustralianLuxury #HomesOfInstagram #BrisbaneHomes #PropertyDevelopment

🏠💰 Sydney's Rental Relief: Affordable Suburbs Near CBD Revealed 🌆🔑 Sydney's rental market has shown signs of easing, but affordability remains a significant challenge for many tenants. Here's an overview of the current situation and some affordable options near the city center: Rental Market Overview - Annual rent growth in Sydney slowed to 6% from November 2023 to November 2024, down from 17% the previous year. - Despite this slowdown, weekly rents are still about 1.5 times higher than in February 2020. - The increase in rental stock has helped ease conditions, with total rental listings rising by 7.1% since November 2023. Affordable Inner-Ring Suburbs For those looking to rent within 12km of Sydney's CBD, several suburbs offer relatively affordable options: 1) Houses Banksia: $765/week Ashfield: $800/week Rockdale: $800/week Campsie: $800/week Canterbury: $800/week 2) Units Enmore: $530/week Campsie: $550/week Croydon Park: $550/week Concord West: <$600/week Petersham: <$600/week Factors Influencing the Market - Increased investor activity and first-home buyers entering the market have contributed to the rise in rental stock. - Cost-of-living pressures and rent growth outpacing wage increases may lead to stronger demand for budget-friendly areas. - The government needs to prioritize building more well-located homes to meet the demands of the growing population and ensure affordable housing access. While the rental market shows signs of improvement, finding affordable housing in Sydney remains challenging. Prospective tenants should consider these more affordable inner-ring suburbs when searching for rentals near the city center. Click on the link below to read the full article: https://lnkd.in/gBDEnPeA #SydneyRealEstate #SydneyProperty #RealEstate #Sydney #PropertyForRent #RentalProperty #ApartmentHunting #SydneyLiving #SydneyRentals #InnerCityLiving #AffordableRentals #CityLifestyle #SydneySuburbs #RealEstateInvestment #PropertyManagement #JustListed #OpenHouse #HouseHunting #RentalMarket #SydneyHomes