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Up, up, up go Australia’s property prices…and its population
UP, UP, UP

In this video we take you from one end to Australia to the other, as we discuss the current shortage of properties, record high population growth and rising property prices.

Jam-packed full of data, Kate will explain where the increases in property prices and shortage of property stock are being felt the most.

It’s a must-watch video for anyone interested in, or already invested in, the Australian property market.

If you’ve enjoyed this video then you might like to subscribe to our YouTube channel, or browse through our latest videos.

If you’d like entirely independent and unbiased advice that’s right for your unique situation and goals, then get in touch with us today.

How are you all doing?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with fantastic hints and tips.

Stay tuned today for all your latest property news.

One of the core reasons the national shortage of properties is so serious is that it coincides with this record increase in Australia’s population.

The latest data shows that Australia’s population grew six hundred and fifty one thousand people in twenty twenty three, which is the highest number in the nation’s history, and eighty four percent of that growth was attributed to overseas migration.

The record level of population growth last year did not cause the shortage of dwellings, including the undersupply of rental homes. The seeds of that shortage, as we all know and I’ve been talking about for years, were sown years earlier by bad government policies and have been exacerbated by bad governance ever since.

But that very high level of population growth last year has made a serious problem more dire.

Australia now has a population of twenty seven million, up two and a half percent in twenty twenty three.

All states and territories recorded population growth last year, although many were net losers of population to interstate migration.

It was overseas migration and natural increases that allowed the weakest jurisdictions to record increases despite losing population from people leaving to live elsewhere in Australia.

Some of the winners on population growth include Victoria had the highest increase in population numbers increasing by one hundred and eighty six thousand people.

Queensland had by far the largest net gain from interstate migration and overall added one hundred and forty one thousand people to its population.

Western Australia recorded the biggest population increase in percentage terms last year because it rose three point three percent, followed by Victoria, two point seven eight, Queensland, two point six two.

New South Wales made the biggest gains from overseas migration but was the biggest net loser from internal migration.

The growth of Australian property values continues with the latest figures showing an almost eight percent increase in the past financial year.

According to CoreLogic, that means values are up by about fifty eight thousand dollars in the past twelve months to seven hundred and ninety four thousand.

On a quarterly basis, housing values are up by one point eight percent similar to results in the March quarter, one point nine percent, December quarter, one point eight percent.

PropTrac says that national home prices reached a new peak in June, marking eighteen months of consecutive increases.

It uses a different methodology to CoreLogic and says that house prices increased nationally by point one five percent to eight hundred and fifty four thousand dollars to the month of June.

According to PropTrac, capital city markets were stronger at point two percent compared to regional areas which are up by point zero two percent.

It says the unit market continues to perform really well with price growth of point three two percent across the combined capital cities and point three four percent in regional areas during the month.

Proptrac senior economist says national home prices have cycled through eighteen consecutive months of growth to hit a fresh peak in June despite the pace of growth slowing as winter begins.

They say although the number of homes hitting the market this year has lifted a bit, strong population growth, tight rental markets, and home equity gains continue to bolster demand, they said.

CoreLogic says there is persistent growth despite an array of risks, including high interest rates, cost of living pressures, affordability challenges, and tight credit policies.

The housing market, they say, resilience comes back to tight supply levels, which are keeping upward pressure on values, they said.

Buyers are continuing to target the Perth market despite many analysts expressing concerns that it has reached its peak.

The Commonwealth Bank’s state and territory quarterly perspective report from June twenty four says that WA recorded the strongest total lending in the past twelve months, which was up by thirty nine percent with investor lending also up by seventy percent.

New South Wales was next with total lending up thirty one percent, Queensland up twenty eight, Victoria seventeen, the ACT nine, Tasmania point two percent.

The report says investor lending is also strong in Queensland at forty six percent,

South Australia forty four percent, New South Wales forty three percent.

In Victoria, which introduced those higher land taxes for investors last year, investor lending was up by sixteen percent, which is the weakest level in Australia.

And I think most of us know what that’s going to do to the rental market there eventually.

The report says that despite recent demand and price increases, Perth’s housing market remains more affordable than other capital cities.

It also says that affordability has improved in Melbourne as it has built more homes than other states and has higher levels of property listings.

Price growth in Brisbane led the report to label it as the second worst in the country behind Sydney in terms of affordability.

Affordability also eased off in parts of Adelaide with homes more expensive to buy relative to income than in Melbourne.

Regional house prices are expected to hit record highs in almost all parts of Australia in the next twelve months according to analysis by Domain.

And you all know how much I love a good prediction by people, analysts, or companies who just want to get great media coverage.

However, here we go.

Domain’s financial year twenty twenty five price forecast report predicts Queensland’s Gold Coast and Sunshine Coast will achieve the strongest growth and will become the most expensive regional housing markets in Australia.

It’s hard to think about them being regional really, isn’t it?

It predicts that the Gold Coast will grow by between three and six percent, and the Sunny Coast will grow, by between two and five percent.

Regional Queensland is predicted to grow by between two and four percent overall.

Regional New South Wales up to about three percent.

Regional Victoria predicted to drop between zero and three percent.

Domain chief researcher says that regional house prices in New South Wales and Queensland would improve the most in large regional towns, such as Tamworth and satellite towns of the major cities such as Wollongong and Newcastle.

Oh, jeez. I could have told you that, and I could have told you that consistently over the ten years.

This is not news.

Apparently, ongoing undersupply will continue to drive these markets.

Taxation changes in Victoria impacted that market and are still impacting that market, and then a lot of investors are looking elsewhere, which is a shame because it’s a great capital growth area.

I’m gonna keep you posted on all things property, from around Australia.

Don’t forget to hit the like and subscribe button if you are enjoying the free content.

I will see you all soon. Bye.

 

How are you all doing?

I’m Kate Hill bringing you the best and unbiased and honest content on property along with fantastic hints and tips.

Stay tuned today for all your latest property news.

One of the core reasons the national shortage of properties is so serious is that it coincides with this record increase in Australia’s population.

The latest data shows that Australia’s population grew six hundred and fifty one thousand people in twenty twenty three, which is the highest number in the nation’s history, and eighty four percent of that growth was attributed to overseas migration.

The record level of population growth last year did not cause the shortage of dwellings, including the undersupply of rental homes. The seeds of that shortage, as we all know and I’ve been talking about for years, were sown years earlier by bad government policies and have been exacerbated by bad governance ever since.

But that very high level of population growth last year has made a serious problem more dire.

Australia now has a population of twenty seven million, up two and a half percent in twenty twenty three.

All states and territories recorded population growth last year, although many were net losers of population to interstate migration.

It was overseas migration and natural increases that allowed the weakest jurisdictions to record increases despite losing population from people leaving to live elsewhere in Australia.

Some of the winners on population growth include Victoria had the highest increase in population numbers increasing by one hundred and eighty six thousand people.

Queensland had by far the largest net gain from interstate migration and overall added one hundred and forty one thousand people to its population.

Western Australia recorded the biggest population increase in percentage terms last year because it rose three point three percent, followed by Victoria, two point seven eight, Queensland, two point six two.

New South Wales made the biggest gains from overseas migration but was the biggest net loser from internal migration.

The growth of Australian property values continues with the latest figures showing an almost eight percent increase in the past financial year.

According to CoreLogic, that means values are up by about fifty eight thousand dollars in the past twelve months to seven hundred and ninety four thousand.

On a quarterly basis, housing values are up by one point eight percent similar to results in the March quarter, one point nine percent, December quarter, one point eight percent.

PropTrac says that national home prices reached a new peak in June, marking eighteen months of consecutive increases.

It uses a different methodology to CoreLogic and says that house prices increased nationally by point one five percent to eight hundred and fifty four thousand dollars to the month of June.

According to PropTrac, capital city markets were stronger at point two percent compared to regional areas which are up by point zero two percent.

It says the unit market continues to perform really well with price growth of point three two percent across the combined capital cities and point three four percent in regional areas during the month.

Proptrac senior economist says national home prices have cycled through eighteen consecutive months of growth to hit a fresh peak in June despite the pace of growth slowing as winter begins.

They say although the number of homes hitting the market this year has lifted a bit, strong population growth, tight rental markets, and home equity gains continue to bolster demand, they said.

CoreLogic says there is persistent growth despite an array of risks, including high interest rates, cost of living pressures, affordability challenges, and tight credit policies.

The housing market, they say, resilience comes back to tight supply levels, which are keeping upward pressure on values, they said.

Buyers are continuing to target the Perth market despite many analysts expressing concerns that it has reached its peak.

The Commonwealth Bank’s state and territory quarterly perspective report from June twenty four says that WA recorded the strongest total lending in the past twelve months, which was up by thirty nine percent with investor lending also up by seventy percent.

New South Wales was next with total lending up thirty one percent, Queensland up twenty eight, Victoria seventeen, the ACT nine, Tasmania point two percent.

The report says investor lending is also strong in Queensland at forty six percent,

South Australia forty four percent, New South Wales forty three percent.

In Victoria, which introduced those higher land taxes for investors last year, investor lending was up by sixteen percent, which is the weakest level in Australia.

And I think most of us know what that’s going to do to the rental market there eventually.

The report says that despite recent demand and price increases, Perth’s housing market remains more affordable than other capital cities.

It also says that affordability has improved in Melbourne as it has built more homes than other states and has higher levels of property listings.

Price growth in Brisbane led the report to label it as the second worst in the country behind Sydney in terms of affordability.

Affordability also eased off in parts of Adelaide with homes more expensive to buy relative to income than in Melbourne.

Regional house prices are expected to hit record highs in almost all parts of Australia in the next twelve months according to analysis by Domain.

And you all know how much I love a good prediction by people, analysts, or companies who just want to get great media coverage.

However, here we go.

Domain’s financial year twenty twenty five price forecast report predicts Queensland’s Gold Coast and Sunshine Coast will achieve the strongest growth and will become the most expensive regional housing markets in Australia.

It’s hard to think about them being regional really, isn’t it?

It predicts that the Gold Coast will grow by between three and six percent, and the Sunny Coast will grow, by between two and five percent.

Regional Queensland is predicted to grow by between two and four percent overall.

Regional New South Wales up to about three percent.

Regional Victoria predicted to drop between zero and three percent.

Domain chief researcher says that regional house prices in New South Wales and Queensland would improve the most in large regional towns, such as Tamworth and satellite towns of the major cities such as Wollongong and Newcastle.

Oh, jeez. I could have told you that, and I could have told you that consistently over the ten years.

This is not news.

Apparently, ongoing undersupply will continue to drive these markets.

Taxation changes in Victoria impacted that market and are still impacting that market, and then a lot of investors are looking elsewhere, which is a shame because it’s a great capital growth area.

I’m gonna keep you posted on all things property, from around Australia.

Don’t forget to hit the like and subscribe button if you are enjoying the free content.

I will see you all soon. Bye.

 

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