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In this in-depth analysis, we dive into the complexities of the Australian housing market, exploring the resilience and potential challenges that lie ahead in 2024. After a year of remarkable recovery and price surges, questions loom large about the future. We’ve gathered insights from a range of sources, including Broker News, AFR, The Property Tribune, Stockhead, CoreLogic, and more, to give you a comprehensive overview of what’s happening in the housing market across Australia.
Key Highlights:
Market Resilience: Despite 13 interest rate rises and high household debt, the Australian property market has shown unprecedented strength. With a significant dip in property listings and a surge in owner-occupier loans, what’s driving this resilience?
2024 Predictions: Experts predict a mix of moderate gains and slight declines across different capital cities. What does this mean for potential buyers and investors?
Economic Factors: From auction clearance rates to population growth, various factors are influencing the market’s trajectory. But with mortgage stress reaching unprecedented levels, how close are we to a tipping point?
The Role of the RBA: As the Reserve Bank of Australia navigates through inflationary pressures and potential rate hikes, what impact could this have on the housing market?
Strategies for Homebuyers and Investors: Amid uncertainties, we discuss strategies to navigate the market confidently, including timing the market, diversification, and long-term investment planning.
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We currently have a shortage of 97,000 homes in Australia.
By 2026 this will grow to a shortage of 146,000 homes.
Increasing shortages cause prices to go up, not down.
Also, everything from fuel, to materials, to vehicles and labour is getting more expensive.
Good points.
Still, house prices can't increase faster than salaries forever. That rubber band will snap sooner or later. I don't see it snapping on the 'salaries' end, I see it snapping on the 'house prices' end.
this all started in 1971 , with the dropping of the gold standard , plenty of graphs out there . a good place to start is google wtf happened in 1971
That is one of the most superficial low brow commentaries I have seen for a while.Get 20 years more experience and you might have a clue.
There won't be a crash like many want a small correction
Bit with building costs going up and shortage off houseing older homes g ok up as well as costs go up gover.ent laws put in on new regulations in bu in lying houses has added 30k to every new home
Fuel prices red go up so building materials go u p it's aĺ delivered by truck
Australia is driven by house sales the goverment don't want prices t ok drop
So get used to it rents have risen to a realistic price. If u can't afford lòok elsewhere mabee a different country
Government will crash everything else before they let the housing market crash. If/when the housing market crashes, it will be the least of our problems.
You should be talking rather than just reading. Boring 😴😴😴😴😴
The broader property sector is thinking like the Chinese economy. Despite huge unaffordable prices, FOMO.
How’s that working out now?
BS. You fail to consider many factors.
You’re selling mortgages, of course you are selling reasonable stability.
they stay strong otherwise everybody else would buy…the increase is controlled national interest related.
The difference between Australia and many other countries is that most working Australians retire with a huge superannuation payout, add the 500K of middle class Indian and Chinese immigrants each year, favourable tax laws for investors, a lack of housing supply, historically low interest rates, etc etc and it's highly likely that the housing price increases we have seen for the past 33 years will continue.
but if China starts a war, stops all agricultural and mineral imports from Australia overnight, interest rates spiral upwards quickly, unemployment jumps, spending decreases, immigration is stopped and the economy greatly weakens then and only then will Aussie house prices decrease….but those who wish for a 50% decrease are dreaming, because even if prices decrease by 5% ~ 10%, higher interest rates and a weaker economy will mean that a house today won't be any cheaper in real terms even after the price decrease.
While house prices are cheaper in the US compared to Australia, you have to take into account the higher cost of ownership in the US, the house insurance costs, the local and state land and house taxes and other real estate related costs are much greater in the USA..and quality housing in a good area isn't any cheaper than equivalent housing in Australia…it's the same with restaurants, a burger in Australia, for example, might cost USD$12 while the same burger might cost USD$9.99,in the US but once you add on the various taxes and tips, it actually costs more.
Good.
As housing prices increase while wages stagnate. Homelessness and poverty will increase as housing affordability becomes impossible for the younger generation. Only large corporations with lots of capital will own them. Rent will also become unrealistic to afford. Shanty towns will start to develop in areas around cities. All while there will be perfectly liveable housing remaining empty. This happened during the great depression. All the infrastructure, buildings and the means to produce food hadn’t changed, they were still there. But the monetary system and economic greed through the use of a central bank and a stock market exchange caused this. Banks through the fractional reserve banking system have printed money in the form of a promissory note to use as mortgage loans. Then charge interest on the mortgage loan that they printed in the first place. This along with uncontrolled immigration and scarcity has over inflated the housing market. But as long as banks make billions of dollars profit by creating poverty and homelessness.
The housing bubble will burst faster than a politician agreeing to a bribe, when Aussies finally realise the far superior asset, #Bitcoin Do the research, bankrupt the corrupt, end the fiat slave trade
They need to stop immigration we are behond full more units are building tomorrows slums the character of suburban areas will be gone forever governments and developers need to get there greedy mouths out of the troughs it’s be coming unliveable
Unfortunately with our Politicians being knee deep in the Aussie Property market, they don't care about the average person and future generations, and will continue implement new policies/schemes to keep propping up the housing market.
Interest rates aren't the problem, they are still below normal at 4.35% and there is no justification to cut them going forward. House prices are the elephant in the room. RBA should keep raising rates until the Government decides to do its job.
Market will not crash due to our TREASONOUS politicians bringing in 800k migrants and only building 190k houses. Do the math not hard. It is a big scam.
In Bitcoin the price of housing has crashed. In AUD housing has gone up. The problem is the currency debasement of AUD. How much does the RBA have in mortgage securities? This AUD based boom is funded by the RBA. What game are they playing?
Getting over our heads in debt. We have been over for over 2 decades. 200% household debt to income is just ludicrous.
Commodified housing, that’s why. They’re financial product, not HOMES.
This is because Australia was open to the overseas rich, buying residency visa's allowing them to buy Australian homes, to rent out to Australians. This visa has been stopped on Dec 23. Hopefully we will see the effects of this by June 24.
They will force people to work at home, which will create isolation,then they will make heaps on flooding the market with cheaper renovated office's,and the ordinary investors will be forced to drop rent or sell up,or offer there sweetener to own a percentage ,and eventually own more than you,hold on for the ride, first home owners, the crash will come, what goes up too fast will come down harder
It’s a healthy market because the government has invited overseas investors to buy, buy, buy!!