Formerly the “Property Planner, Buyer and Professor” podcast
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Show notes
1. Home Value Index Results
The Duo note some of the interesting indices for the state of the nation in the month of October. They marvel at Hobart’s quick pivot and wonder what has driven the positive growth. The combined regions outperformed the combined capitals too, and despite the strong monthly performance in Perth, they note that growth has slowed of late.
Source: CoreLogic
Dave and Cate delve into reluctant-seller psychology. After the high’s of 2021 for the eastern states, and observing Perth’s stellar run over the past couple of years, it’s interesting to consider what behaviours are exhibited when locations experience downturns following a strong run.
Dave notes that consumer sentiment data is suggesting many have a keen eye on Melbourne, and Cate shares some observations about the regional performance in Victoria.
Segmenting the market into price quartiles tells quite a story. Cate and Dave use some examples in the market and they canvas the reasons why the various price points have performed so differently to each other.
Source: CoreLogic
2. Listings
The correlation between capital growth and listing activity is one of the Trio’s favourite discussion points each month. Although Dave makes an important point.
“One of the issues with a five year average is that it doesn’t factor in population growth.”
What’s driving listing activity around the nation? Tune in to find out….
Source: CoreLogic
New listing activity has pivoted and Melbourne, Hobart and Canberra listing activity has dropped compared to this time, last year. On the flip-side, Perth and Darwin are exhibiting higher numbers of new listings.
3. Rents
Rents remain steady, and aside from Hobart, the pace of growth has slowed. However, vacancy rates remain very tight and yields have strengthened. Dave points out that this combination of data is a leading indicator for value growth.
Source: Westpac Melbourne Institute
5. Lending Indicators
Investors are moving back in to the market at a higher rate and lending has remained steady accross the board.
Source: CoreLogic
Victoria has underperformed on the investment lending front, unsurprisingly. NSW leads the chase with 44% of new loans secured in September.
Source: CoreLogic
Gold Nuggets
Cate Bakos’s gold nugget: The new listing activity for 2024 campaigns is easing and there is only realistically another fortnight to run before campaigns finish and the market goes into hibernation over the Christmas period. For any buyers who wanted to purchase in 2024, now is the time! Get out there!
David Johnston’s gold nugget: Make your own decisions based on your own personal economy!
Resources
The Property Planner’s Monthly Market Update
And if you’ve enjoyed this show, take a listen to these eps:
- 6 – What determines your Property Strategy
- 10 – Why your approach and assessment of risk is paramount to property success!
- 12 – Property Cycle Management – why now is always the best time to buy if it suits your personal economy and you have a long-term property plan
- 18 – When to hold and when to fold!
- 60 – Why established properties outperform
