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What’s in store for property in 2024?
What's in store for property in 2024?

Kate Hill examines the property market and suggests what is on the cards for 2024.

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Hello everyone how are you all doing out there? It’s Kate Hill as always bringing you the best unbiased and honest content on property along with fantastic hints and tips.  

Stay tuned today to hear about what’s in store for us and property in 2024.

[Music] Now I’m happy to say that this time last year in spite of all those interest rate rises I predicted property growth during 2023 and the way I see it is that the factors that put price pressure on properties this year are set to continue next year.

So what I’m talking about is billions and billions of dollars on major infrastructure expenditure, population growth thousands of new overseas migrants arriving and crucially low stock levels.  

There is and will be more buyer demand than there is supply of properties available in many of the property markets around Australia. When you add in the very real possibility that interest rates might be heading down at some stage next year you don’t need to be Einstein to work out that market conditions are looking promising for property buyers.

For anyone who purchased a sound and well-located property prior to the pandemic they are probably sitting pretty when it comes to capital growth given that property prices continue to be significantly above the level that they were back then.

Now this likely means that they may have significant equity that can help increase  

their portfolio and their future financial positions. Millennials and Gen X’s aged in their  

mid-30s and 40s who may have been homeowners for a few years now are the prime candidates to make their equity work harder for them. That’s you.

And that’s because they are likely in the prime income earning period of their lives also plus they also have plenty of time in front of them to let the magic of compounding capital growth happen. 

Unfortunately many property buyers stayed on the sidelines this year because of those alarmist  predictions that never came to pass yet again.  

Property prices have been moving upward in many locations so it’s vital that anyone considering a property purchase doesn’t find themselves looking back with regret when they had the opportunity to buy and that means do something now.

For property investors on a tight budget there are still pockets that offer prime opportunities to purchase an affordable property with good long-term prospects around the nation. In many parts of Australia especially our biggest capital cities it’s extremely difficult to find a property priced under $550,000 or $600,000 but there are suburbs where affordable homes are still available.

Now as buyer’s agents we’re currently working with a range of clients for whom budget and reasonable cash flow are pretty big considerations.

The cost-of-living crunch and the burden of high interest rates has forced many prospective purchasers to tighten their belts and those active in the  market face really strong competition. Though with a lack of supply like I said before and  a rapidly growing pool of buyers.

Now finding investment grade stock is not impossible. It’s pretty tough at the moment and it’s vital that investors do the required amount of due diligence and engage the services of a qualified buying experts to help them. Now we are looking forward of course to helping all of our dear clients start or expand their property investment portfolios  in a myriad of locations around the next year.  

So happy Christmas everyone have a really great and healthy start to 2024 and I will see you all again soon. Don’t forget to like and subscribe. Give me that as a Christmas present.

Bye

Hello everyone how are you all doing out there? It’s Kate Hill as always bringing you the best unbiased and honest content on property along with fantastic hints and tips.  

Stay tuned today to hear about what’s in store for us and property in 2024.

[Music] Now I’m happy to say that this time last year in spite of all those interest rate rises I predicted property growth during 2023 and the way I see it is that the factors that put price pressure on properties this year are set to continue next year.

So what I’m talking about is billions and billions of dollars on major infrastructure expenditure, population growth thousands of new overseas migrants arriving and crucially low stock levels.  

There is and will be more buyer demand than there is supply of properties available in many of the property markets around Australia. When you add in the very real possibility that interest rates might be heading down at some stage next year you don’t need to be Einstein to work out that market conditions are looking promising for property buyers.

For anyone who purchased a sound and well-located property prior to the pandemic they are probably sitting pretty when it comes to capital growth given that property prices continue to be significantly above the level that they were back then.

Now this likely means that they may have significant equity that can help increase  

their portfolio and their future financial positions. Millennials and Gen X’s aged in their  

mid-30s and 40s who may have been homeowners for a few years now are the prime candidates to make their equity work harder for them. That’s you.

And that’s because they are likely in the prime income earning period of their lives also plus they also have plenty of time in front of them to let the magic of compounding capital growth happen. 

Unfortunately many property buyers stayed on the sidelines this year because of those alarmist  predictions that never came to pass yet again.  

Property prices have been moving upward in many locations so it’s vital that anyone considering a property purchase doesn’t find themselves looking back with regret when they had the opportunity to buy and that means do something now.

For property investors on a tight budget there are still pockets that offer prime opportunities to purchase an affordable property with good long-term prospects around the nation. In many parts of Australia especially our biggest capital cities it’s extremely difficult to find a property priced under $550,000 or $600,000 but there are suburbs where affordable homes are still available.

Now as buyer’s agents we’re currently working with a range of clients for whom budget and reasonable cash flow are pretty big considerations.

The cost-of-living crunch and the burden of high interest rates has forced many prospective purchasers to tighten their belts and those active in the  market face really strong competition. Though with a lack of supply like I said before and  a rapidly growing pool of buyers.

Now finding investment grade stock is not impossible. It’s pretty tough at the moment and it’s vital that investors do the required amount of due diligence and engage the services of a qualified buying experts to help them. Now we are looking forward of course to helping all of our dear clients start or expand their property investment portfolios  in a myriad of locations around the next year.  

So happy Christmas everyone have a really great and healthy start to 2024 and I will see you all again soon. Don’t forget to like and subscribe. Give me that as a Christmas present.

Bye

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