Welcome to the final quarter of the year! Although we’re reaching out a little later this month, I have to say this is my favourite time of the year. It’s an exciting period and typically one of the best for real estate sales. Let’s finish strong and make the most of these remaining months!
Before we dive in, here’s a quick update on the real estate markets in Australia and New Zealand, where we’re seeing some mixed trends.
For Australian Market Overview:
- Melbourne & Sydney: Both cities are experiencing slow growth, with Melbourne seeing a 0.1% decline in September and Sydney up just 0.2%. Demand is easing, making it a buyer’s market in many areas.
- Brisbane & Adelaide: After rapid growth, both markets are slowing, with Brisbane up 0.9% and Adelaide 1.3% for the month.
- Perth: Still strong with 24.1% annual growth, but beginning to cool as supply rises.
Nationally, housing affordability remains a concern, with affordability pressures mounting as rental growth slows.
New Zealand Market
The market is stabilising after interest rate hikes, creating opportunities for buyers, particularly in Auckland and Wellington.
To conclude, the real estate markets in Australia and New Zealand are in a phase of adjustment. Although Perth remains the top performer, it too is starting to cool. Agents and investors have a brief window to act before the year ends, but a cautious approach is essential as conditions change. Stay informed, stay proactive, and prepare for a busy start to 2025.
As always, here’s to your ongoing success.
Cheers
