As we are now in the middle of February, with the festive season behind us, we are now fully directed towards the opportunities that lie ahead in the new year.
Let’s take a closer look at the current state of the real estate markets in Australia and New Zealand. Watch the video below and explore the key trends shaping the property landscape.
Australian Real Estate Overview
In Australia, the real estate market varies widely across major cities and regions. Perth showcases notable growth rates of 14%, 10.3%, and 16.7% respectively, with Perth standing out as a top performer. Sydney boasts an impressive 11% annual growth rate, while Melbourne experiences a minor downturn. Brisbane, Adelaide. However, the national market shows a downward trajectory with a 0.41% growth rate, contrasting with the stronger trend seen in regional markets.
Despite the overall positive outlook, challenges and uncertainties loom on the horizon. The impact of rising inflation, higher interest rates, and consumer sentiment remains significant, influencing market dynamics and purchasing behaviours. Additionally, migration patterns are shifting, with changes in overseas and regional migration trends affecting rental demand and property purchasing activity.
New Zealand Real Estate Overview
In New Zealand, the real estate market has seen a turnaround in recent months, with prices rising for the fourth consecutive month. The housing market in New Zealand has undergone a notable transformation, driven by changes in government policies and investor sentiments. While Auckland and Wellington experience moderate growth, the market’s trajectory remains cautiously optimistic.
In summary, the real estate markets of Australia and New Zealand offer a diverse range of performances, showcasing evolving trends and regional dynamics. To thrive in this dynamic landscape, industry professionals must remain vigilant, utilize data-driven insights, and take proactive measures to navigate challenges and capitalise on growth opportunities.
As always, here’s to your success in 2024.
Cheers
Ryan
