There are opportunities for savvy buyers in Melbourne’s subdued market.

The Melbourne property market remains sluggish, with no interest rate cut on Cup Day, high listing numbers, and subdued property values. However, this creates a window of opportunity, especially for premium home buyers and strategic investors.

Luxury home market in Melbourne: A window of opportunity.

In this episode, I had the privilege of engaging in a robust property discussion with Tim Lawless, Executive Research Director, CoreLogic Asia–Pacific.

Together, we explore the landscape of investing in South East Queensland, diving into key drivers for investment and a broader view of the Australian property market. Tim shares insights on the best suburbs to invest in on the Sunshine Coast and highlights affordable options for those taking their first steps on the property ladder, as well as suburbs with strong investment fundamentals for capital growth and higher yields.

November 2024 Property update with Cameron Porter from Porters House Buyers Agency.

In the update, Cameron discusses the following topics;

• International stock market response to the US Election.

• Australian Property Market overview, and key movements in the capital cities.

• Is the market becoming a buyer’s market?

• Rental Growth Slowing

• Potential Capital Gains Tax (CGT) and Negative Gearing Changes.

• Government progress regarding to the five-year plan to build 1.2 million homes

• Recent Reserve Bank of Australia’s (RBA) decision.

CoreLogic Home Value Index Report November 2024: Sydney home values slip in October as the national market cooldown continues.

Monthly Home Value Index Changes are as follows:

• Sydney -0.1% REG NSW +0.5

• Melbourne -0.2%, REG VIC -0.2%

• Brisbane +0.7%, REG QLD +0.8%

• Adelaide +1.1%, REG SA +1.3%

• Perth +1.4%, REG WA +1.4%

• Hobart +0.8%, REG TAS +0.7%

• Darwin -0.1%,

• Canberra -0.3%

• Combines Capitals +0.2%, Combines REG +0.6%, National +0.3%

PRESTIGE PROPERTY MARKET UPDATE 2024

The Sunshine Coast stands out prominently among Australia's top 20 premium regional suburbs, as highlighted in the Prestige Market Report by CoreLogic and Westpac Private Bank. Common traits of the sought-after Top 20 Regional Prestige Suburbs include:

• Desirable coastal or hinterland lifestyle

• Affluent communities

• World-class beaches and scenic surroundings

• Positioned within a two-hour commute from major capital cities, providing convenience and accessibility (Brisbane CBD)

• Accessible airports and a wealth of quality dining and recreational facilities (Sunshine Coast Regional Airport & Brisbane Airport)

The Sunshine Coast delivers these attributes in spades... To read the full report, download here:

October 2024 Property update. “Australian property market reaches $11 trillion as national price growth slows.” CoreLogic Australia.

Our Sydney and Northern Beaches Property Specialist Cameron Porter, from Porter House Buyers Agency, has unpacked the latest data from CoreLogic Australia in a YouTube Video for THE EXPATRIATE Community. Here are the key takeaways;

• The Australian residential property market reached a record $11 Trillion in September.

• The annual pace of growth has slowed to 6.7% for the past 12 months, down from the high of 9.7% in the 12 months to March.

• Sydney, Brisbane, Adelaide, and Perth dwelling values are currently high. Perth had the highest monthly, quarterly, and annual dwelling value increase, while Adelaide has overtaken Brisbane as the second-strongest capital city market nationally.

• In September, Sydney increased by 0.2%, Brisbane by 0.9%, and Perth by 1.6%. Melbourne is continuing to fall. 

Thank you, Eliza Owen, Head of Research Australia at CoreLogic, for sharing the latest Property Pulse Report. It explores the unit markets in Melbourne and Sydney, revealing 65 areas where 2024 values are lower than their peaks in 2010, indicating "The buyer’s markets where no one wants to buy.”

CoreLogic Home Value Index (HVI) released October 1st 2024.

Thank you, CoreLogic Australia, for sharing the Home Value Index September housing market results with the expatriate community. The HVI reported that Australian home values increased by 0.4% in the first month of spring, similar to the changes of 0.3% in July and August as the market slows down.

1. Perth +1.6% Regional WA +1.8%

2. Adelaide +1.3% Regional SA +1.1%

3. Brisbane +0.9% Regional QLD +0.7%

4. Sydney + 0.2% and Regional NSW +0.2%

5. Melbourne -0.1% Regional VIC -0.2%

6. Darwin -0.1%

7. Canberra -0.3%

8. Hobart -0.4% Regional TAS -0.2

Is the Australian rental boom ending?

The latest CoreLogic Australia Property Pulse data indicates the rental boom is ending. Rental demand weakened in July and August due to lower demand from reduced migration and affordability issues, which caused changes in household formation. New building developments and Investor activity also increased, helping to ease the pressure on rents.

Infolio, Spring Property Update by Lauren Staley.

So, what is the key to success in a buyer’s market?

If you want to make a smart purchase, it boils down to one essential skill: negotiation. While that might sound simple, you need to remember that real estate agents are seasoned negotiators—they do this all day, every day. Their job is to secure the best possible price for the seller, so having strong negotiation skills or employing a professional buyer’s advocate is critical to ensure you're getting the best deal possible.

Living Luxe Life, Christine Mount talks to Noosa local and founder/publisher at Sunday Press, Jonette Wilton. 🌴🏖️

Join us as Jonette, the winner of the prestigious Gourmand for Best Fundraising Book in Asia 2022 and second place for the Best Cook Book in the World 2022, shares her incredible journey as a female entrepreneur, highlighting resilience and adaptability during challenging times of change.

Cameron Porter, from Porters House Buyers Agency, joins the TE Team.

Cameron brings a wealth of knowledge and expertise, spanning over 20 years of experience in the property market. He is an industry leader, enabling him to navigate the complexities of buying and selling properties with a focus on securing the best possible deal for his clients. Cameron deeply understands property investment and the intricacies of purchasing for Australian expats.

Director of Luxe Coastal Property Buyer Christine Mount and Director and Auctioneer Raywhite Mooloolaba Brett Higgins unpack many of the myths of the Australian Property Market.

In this episode, Christine Mount & Brent Higgins from Ray White, Mooloolaba & Kawana delve into some of the most commonly held real estate myths and misconceptions that can significantly influence buying and selling decisions, offering insights to help navigate the complex landscape of property investment.

Why is it hard to value a property?

Valuing property in today's market is extremely challenging, even for real estate agents, who are sometimes accused of underquoting. So, is it underquoting? We would argue it isn't. Rather, it's the result of undersupply and high demand in certain market pockets. For instance, last week in Surrey Hills, a property with a quoted range of $2,000,000 to $2,200,000 saw a heated auction with over 20 bids, ultimately selling for $2,737,000. While the property sold well above the quoted range, the real estate agent wasn’t intentionally underquoting;

Cut through all the hype surrounding the housing market, and ensure you are well-informed before you go house hunting this weekend. Discover the Peaks and the Troughs of each capital city’s real estate landscape before you embark on your house-hunting journey with the latest information and explore how much stock is currently available in your chosen capital city, if there is vendor discounting to put you in the best possible position when purchasing or selling your next property. You can find this invaluable information conveniently compiled in the easy-to-follow CoreLogic Australia Media pack, which can greatly aid your decision-making process and help you make smart decisions. The media includes the following data:

• 3 Month Rolling Averages for each capital city, with housing cycles.

• Sales Volumes for each Annual transaction

• Median days on the market

• Vendor Discounting

• Listings in each region and why it is putting pressure on or discounting prices.

• Weekly auction clearance rates.

• Rental markets and Rental Yields.

• Dwelling Housing approvals

• Finance and lending, including investor lending and first home buyers, housing credit

• Chart of the month.

Introducing Christine Mount, Luxe Coastal Property Buyers, Noosa and Sunshine Coast’s premiere buyers’ agent.

We are excited to introduce our newest contributor, Christine Mount, our Sunshine Coast Property Specialist from Luxe Coastal Property Buyers, Noosa's and Sunshine Coast Premier Buyers agent. Christine and her team have 30 years of experience and local knowledge in the Sunshine Coast Region. She has a deep, heartfelt love for her community, Noosa, and the Sunshine Coast, which shines through her podcasts Living Your Luxe Life.

Chris Gray from Your Empire Sydney, Zoran Solano from Hot Property Buyers Agency Brisbane, and Lauren Staley from Infolio Property Advisors in Melbourne share their valuable key insights on the Australian Property Market Update for July 2024 and share their opinion on the latest CoreLogic HVI July 2024 Data. They delve deep into various crucial topics, providing a comprehensive overview for those seeking to stay informed about the current trends and developments in the real estate landscape. The YouTube video covers the following topics:

• The best way to present yourself for a home loan is by working with your mortgage broker.

• How to hold onto your investment property through the cost of living crisis

• Southern state buyers are moving to South East Queensland (SEQ), Gold Coast, Brisbane, and Sunshine Coast, where there is fantastic value for like-to-like property.

• Growth plateauing in SEQ

• Beware of inexperienced buyer agents. If you are looking for a buyer’s agent, ask the following questions;

  • What is your experience, and how long have you been in the industry?

  • Who are your contacts? What is your feed process like?

  • Can I see your referrals?

  • Vendors dealing directly with a buyers agent? What do the experts think?

• CoreLogic HVI Report, be mindful that it is the area average and not reflective of the blue-chip areas.

Thank you, CoreLogic, for sharing your Home Value Index Report with our community. The key points from the report are below.

Australian house prices rose by 0.7% in June, totalling an 8% increase for FY2023-24. This equals a $59,000 rise to a typical house price of $794,000. The yearly increase sharply differs from the -2% fall in FY2022-23. In that period, values dropped by 7.5% nine months after May 2022 due to higher cash rates. Despite the yearly increase, growth rates have slowed since mid-2023, with the recent June quarter seeing a 1.8% increase, similar to last year's March and December quarters. Here is the monthly change for each capital city and regional area;

• Sydney +0.5% and REG NSW +0.3%

• Melbourne -0.2% and REG VIC -0.3%

• Brisbane +1.2% and REG QLD +1.0%

• Adelaide +1.7% and REG SA +1.3%

• Perth +2.0% and REG WA +1.5%

• Hobart +0.1% and REG TAS +0.7%

• Darwin 0.0% NA

• Canberra +0.3%

Why is the ‘quoted range’ changing?

We have observed an increase in properties where the initial quoted price starts significantly below the property's actual value. As the marketing campaign progresses, the price gradually increases, ultimately selling for an amount well above the original price. Agents are struggling to confidently assess property values due to significant and seemingly inexplicable discrepancies in results. This uncertainty has made them hesitant. As a result, they initially set lower prices to attract potential buyers and then increase the prices once they feel more confident about market expectations. Below are three recent examples.

We have received the CoreLogic April 2023 Home Value Index Report, which contains valuable information about the current state of the property market. Despite the impact of high interest rates and inflation, housing values increased by 0.6% in April. This is mainly due to a persistent low supply in the market. The April Home Value Index (HVI) by CoreLogic provides essential insights for those closely monitoring property market trends and key insights from CoreLogic Oceanic Research Director Tim Lawless. This is what he has to say about the latest HVI data.