It looks like we’re
going to have another good year in property in 2024.
Last year property
prices across Australia defied expectations, rebounding in the face of
continued rate hikes and closing in on record highs or even hitting new peaks
in some areas.
The nation’s median
home value made a full recovery last year as the over all housing shortage put
upward pressure on prices and rents.
However, signs of
softer market conditions emerged late last year, when the pace of price growth
and auction clearance rates eased – and that is expected to continue.
In fact, there is
still a wide range of economic challenges that our housing markets will have to
contend with in this new year, but there is also a combination of growth
drivers – what I’d call a "perfect storm” – that should lead to a period of
further property price growth in 2024.
While usually the
term "a perfect storm” refers to a highly negative scenario, in this case, it’s
a positive one, especially if you are a property investor.
RealRenta has all the tools that a property manager has but for
less than ¼ the cost of a property manager.
You can now manage your Residential,
Commercial or share/student accommodation property
Join now and the cost is less than a cup of coffee a week to manage your
rental property.
RealRenta also has a free vision, so why not check it out.
Jason Gwerder
Tuesday, 13 February 2024