Grant Philipp

Vendor discounting falls from 4.2% to 3.6% There's been a sharp reduction in the national rate of vendor discounting over the past year, reflecting a heating up of the market during that time. Between the quarters of March 2023 and March 2024, the median vendor discount across Australia fell from 4.2% to 3.6%, according to CoreLogic. As the graph shows, discounting declined in every capital city except Darwin. Vendor discounting refers to the gap between a home’s initial listing price and its final selling price. A decline in discounting activity means the market is heating up, because more vendors are able to attract a buyer without reducing their price. #property #realestate #homeloans

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The number of residential sale settlements in Western Australia has grown, according to PEXA. Between the March and June 2024 quarters, settlements rose 15.9% to 24,844. This was the biggest quarter-on-quarter growth since 2020. A very large portion of these took place in Greater Perth which saw growth of 18.7% quarter-on-quarter to 19,834 residential sale settlements. Strong growth in the June quarter came after an uncharacteristically slow March quarter. Although it is likely that this was driven by the timing of Easter and the school holidays which led buyers to delay their purchases until April. Within the last quarter June, typically one of the strongest settlement months, had fewer business days this year which could explain why it was quieter than April and May. Nonetheless, the quarter showed strong results for both Perth and WA. #perth #property #propertymarket

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𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐇𝐨𝐦𝐞𝐨𝐰𝐧𝐞𝐫𝐬 𝐆𝐚𝐢𝐧 $𝟓𝟗𝐊 𝐖𝐞𝐚𝐥𝐭𝐡 𝐁𝐨𝐨𝐬𝐭 𝐢𝐧 𝐅𝐘𝟐𝟒! Australian dwelling values have 𝘀𝗼𝗮𝗿𝗲𝗱 𝗯𝘆 𝟴.𝟬% 𝗮𝗰𝗿𝗼𝘀𝘀 𝗙𝗬𝟮𝟬𝟮𝟯-𝟮𝟰, adding a remarkable $𝟱𝟵,𝟬𝟬𝟬 to the median home value, now sitting at $𝟳𝟵𝟰,𝟬𝟬𝟬. 𝐉𝐮𝐧𝐞 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: - Dwelling values increased by 0.7%, contributing to a steady 0.5% to 0.8% monthly rise since February. - Despite high rates and cost of living pressures, tight supply levels are driving values up. 𝐂𝐢𝐭𝐲 & 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞: - Perth leads the charge with a 2.0% rise in June, marking a 23.6% annual increase. - Adelaide (1.7% in June, 15.4% annually) and Brisbane (1.2% in June, 15.8% annually) also shine brightly. - Regional WA sees a 1.5% rise in June, with a 16.6% annual increase. - Melbourne and regional Victoria saw slight declines in June, but most regions are trending higher. 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: - Strong demand, driven by interstate migration, particularly in WA and Queensland. - Severe shortages in listings in Perth, Adelaide, and Brisbane indicate high demand. For property buyers and investors, the resilience and growth of the housing market present exciting opportunities despite challenges. Don't miss out on these trends! #propertymarket #investmentopportunity #AustralianRealEstate #WealthBoost #homebuyers #realestatetrends #BrayePropertyBuyersAgency #corelogicdata

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House Price trends are fascinating! Cycles are different for every suburb 🚲 and every Local Government Area. The most common question I get from investors is "Where should I buy?". Area fundamentals are important. But, don't underestimate TIMING. ⏱ #houseprices #propertyinvestment #buyeradvocates

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Revenue ⬆️ 60% Client Purchases ⬆️ 40% Client Savings ⬆️ 25% 2023-2024 year has been SOLID 💪🏻 Planning day tomorrow with the team in Brisbane as we aim to double our business the next 12 months 🔥 Steady growth is the best growth 🚀

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"𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐇𝐢𝐭𝐬 𝐑𝐞𝐜𝐨𝐫𝐝 $𝟏𝟎.𝟒 𝐓𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐕𝐚𝐥𝐮𝐞" In February, the total value of residential real estate in Australia reached an impressive $10.4 trillion, according to CoreLogic data. This represents a notable increase from the previous month's $10.3 trillion and signifies a new peak in the market. The quarterly national home value growth accelerated to 1.3% over the three months leading up to February, up from 1.0% in the previous quarter. Over the past 12 months, national values saw a substantial 8.9% increase, marking the highest annual rise since the second year of the pandemic, when values surged by 10.8%. Perth emerged as a standout performer in terms of capital growth, with values soaring by 18.3% over the past year. Notably, the most significant growth was observed in more affordable housing segments, with values in the country's most budget-friendly suburbs rising by 2.4% over the three months to February. This contrasts with a more modest 0.7% increase in mid-priced dwellings and a 0.6% rise in the upper quartile. CoreLogic's research director, Tim Lawless, highlighted a historical trend where more expensive homes typically lead price cycles, both during upswings and downturns. However, this pattern has seen exceptions, particularly in Perth and Adelaide, where lower quartile home values have consistently outpaced other segments throughout 2023 and into the first months of 2024. Lawless emphasized that while certain trends may prevail in major cities like Sydney, Melbourne, and Brisbane, the dynamics can vary across regions, demonstrating the complexity of Australia's diverse property market landscape. 𝑆𝑜𝑢𝑟𝑐𝑒: 𝐹𝑜𝑟𝑏𝑒𝑠.𝑐𝑜𝑚 #RealEstateEducation #property #economy #markets #capitalgrowth

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𝐖𝐡𝐞𝐫𝐞 𝐡𝐨𝐦𝐞 𝐩𝐫𝐢𝐜𝐞𝐬 𝐚𝐫𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐭𝐨 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐦𝐨𝐬𝐭 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐱𝐭 𝐲𝐞𝐚𝐫 Property prices are forecast to rise in the next 12 months, albeit at a slower rate. Smaller capital cities are expected to perform best. Hobart and Canberra will see the least growth, with prices forecast to rise 0-3% and 2-5%, respectively. In Hobart, prices have declined by 1.5% since July 2023 and are now 9% below their peak. In Canberra, the volume of stock for sale has increased the most among all cities, contributing to slower price growth. Sydney, Melbourne and Brisbane home prices are forecast to rise 3-6% in the next year. Sydney and Brisbane have shown strong demand, while Melbourne's recovery has been slower but is expected to improve. Perth and Adelaide are expected to see the highest price increases at 8-11% and 5-8%, respectively, due to their relative affordability and declining home listings. Tight rental markets have also driven price rises as renters turn to purchasing homes.

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BRISBANE MARKET CHALLENGES | Primary Residence/Owner Occupied Buyers 1. Limited Stock of Turnkey, Ready to Live Properties One significant challenge we're observing currently is the limited stock of turnkey, ready to live properties. Exceptional homes, particularly in blue-chip locales, are in high demand and are being secured almost instantly. This scarcity is creating a highly competitive market where buyers need to act quickly and decisively to secure their desired property. For those seeking a move in ready home, it's crucial to stay informed about new or upcoming listings and be prepared to make swift decisions. 2. Indecision Among Owner-Occupier Buyers Another major challenge is the indecision among many owner-occupier buyers. They're unsure whether to list their current home first to be ready to buy, but worry about not finding the right property in time. On the other hand, arranging bridging finance will alleviate timing issues but introduces additional financial burdens. This dilemma often results in analysis paralysis and missed opportunities. 3. Fluctuating Price Points Fluctuating price points in Brisbane’s bluechip areas add another layer of complexity. Determining the true value of a property can be challenging, and we've seen buyers miss out by being overly opportunistic with their offers. The ever-changing market means that what may seem like a higher offer today could quite simply be the norm tomorrow. 4. Time Given the current stock levels and competition, the time commitment required for a proactive property search. Many buyers are struggling to dedicate the necessary time to stay ahead in this fast-paced market. Balancing work, family, and a thorough property search can be incredibly overwhelming even for experienced buyers that have transacted on property before. Staying informed about new or upcoming listings, evaluating financial options carefully, and making competitive offers are key steps. Leveraging the expertise of market professionals can level the playing field and provide the insights needed to make confident decisions. If you are, or know of an owner-occupier buyer struggling to find the dream home, my team is here to help. Reach out to me directly for a confidential discussion. #BrisbaneRealEstate #OwnerOccupiers #HomeBuyers #RealEstateExpert #TeamOsborn #Prestige

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I've Crunched the Numbers So You Don't Have To! 🏘️ Australian Property Market After diving deep into the latest CoreLogic data, I've distilled the key insights you need to know: 📊 National Overview: • 8% annual growth in dwelling values • Median value now at $794,000 (up $59,000 in just one year!) 🏅 City Champions: 1. Perth: Smashing records with 23.6% annual growth 2. Adelaide: Strong performer 3. Brisbane: Showing robust growth ⚠️ Areas to Watch: • Melbourne and regional Victoria: Slight declines (-0.2% and -0.3% monthly) • Hobart: Stagnating with flat growth 🔍 What's Driving These Trends? • Supply squeeze in top-performing markets • Interstate migration reshaping demand • Resilient housing demand despite economic challenges But here's what's really interesting... The June quarter growth (1.8%) suggests market stabilization. Is this the new normal, or just a breather before the next big shift? Want the full breakdown and what it means for your property goals? DM me for a quick chat – I've got the data, and I'm ready to translate it into actionable strategies for you.

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𝐒𝐮𝐫𝐠𝐢𝐧𝐠 𝐒𝐮𝐛𝐮𝐫𝐛 𝐒𝐚𝐥𝐞𝐬: 𝐑𝐞𝐜𝐨𝐫𝐝-𝐁𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐇𝐨𝐮𝐬𝐢𝐧𝐠 Over the past 12 months, several suburbs across Australia have experienced unprecedented growth in house sales, breaking previous records and showcasing remarkable increases in property values. Leading the way is Dover Gardens, SA, where the average house price surged by 124%, reaching a new high of $3,040,000, up from $1,355,000. This substantial increase highlights the suburb’s rising appeal and investment potential. In Newtown, NSW, the new record stands at $13,500,000, a 103% jump from the previous record of $6,650,000. Hurstville Grove, NSW, also nearly doubled in value, with prices soaring to $10,450,000, a 98% increase. Other suburbs like West Pymble, NSW, and Ravenswood, WA, experienced significant gains of 88% and 87%, respectively. These dramatic price hikes reflect the strong demand and limited supply in key areas, driven by factors such as urban migration, infrastructure developments, and lifestyle changes post-pandemic. Suburbs like Lamb Island, QLD, and Elwood, VIC, although keeping their new records private, also witnessed substantial growth, reinforcing their status as prime investment locations. We’re proud to have selected two high-growth locations—Cherrybrook, and Acacia Gardens NSW—where our clients have seen significant returns. In Cherrybrook, a property purchased for $1.7 million has already grown by $60,000, while in Acacia Gardens, a $1.2 million investment has seen a growth of $155,000. 𝐈𝐟 𝐲𝐨𝐮'𝐫𝐞 𝐥𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐨 𝐚𝐜𝐡𝐢𝐞𝐯𝐞 𝐬𝐢𝐦𝐢𝐥𝐚𝐫 𝐬𝐮𝐜𝐜𝐞𝐬𝐬 𝐢𝐧 𝐟𝐢𝐧𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐢𝐧𝐠 𝐚 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲, 𝐰𝐞’𝐫𝐞 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐡𝐞𝐥𝐩. 𝐁𝐨𝐨𝐤 𝐚 𝐜𝐚𝐥𝐥 𝐰𝐢𝐭𝐡 𝐮𝐬 𝐮𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐢𝐧 𝐭𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐧𝐭𝐬 𝐬𝐞𝐜𝐭𝐢𝐨𝐧 𝐛𝐞𝐥𝐨𝐰. 𝑆𝑜𝑢𝑟𝑐𝑒: 𝑅𝐸𝐴

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National market overview: In October, CoreLogic’s national Home Value Index (HVI) rose by 0.3%, marking the 21st consecutive month of growth. Perth led the charge with a 1.4% increase, offsetting declines in Darwin, Canberra, Melbourne, and Sydney. Annual growth has decelerated to 6.0%, down from 9.7% in February. Sydney's property market experienced its first monthly decline since January 2023, driven by a fall in upper quartile house values. In contrast, lower quartile house and unit values saw a modest increase. This shift reflects broader affordability challenges and reduced borrowing capacity, which have bolstered the lower end of the market. Despite the cooling trend, mid sized capitals like Perth, Adelaide, and Brisbane continue to show positive growth, albeit at a slower pace. Rising advertised stock levels and declining sales activity indicate looser selling conditions, giving buyers more choice and less urgency. The market is gradually balancing, moving from a seller's market towards a more buyer-friendly environment.

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