Emmil Philip - Real Estate Agent

04/03/2025

16/10/2024

08/10/2024

The national rental index recorded just a 0.1% increase over the September quarter—marking the slowest rise in rental prices in four years. 📉 With cities like Sydney (-0.5%), Brisbane (-0.2%), and Canberra (-0.8%) seeing declines in rents, the rental market is clearly losing steam across much of the country.

Melbourne and Perth both recorded modest rent rises of 0.3%, a sharp contrast to the 2.2% and 2.3% increases we saw a year ago.
Net overseas migration has also slowed by 19%, helping ease pressure on the rental market.
🏘️ Affordability pressures and easing migration numbers are pushing more Australians to consider group or multi-generational living arrangements to cope with high rental costs. As a result, rental demand is beginning to ease, and we’re seeing some balance return to the market.

📊Despite the slowing rental growth, investor activity is picking up, now making up around 38% of new lending, which could help support rental supply moving forward. However, with national gross rental yields dropping to 3.68%, below average returns are creating challenges for new investors in the market.

Source: Property Update

23/07/2024

In June, PropTrack's National Home Price Index reported a 0.18% increase in national home prices, marking the slowest monthly growth since December 2022. Despite this, the prices have continued to rise for 18 consecutive months, reaching a new peak in June. Overall, home prices have risen by 10.14% from their December 2022 low and are currently 6.55% higher than June 2023 levels.
The market is facing a shortage of housing due to strong demand, population growth, and limited new construction. Additionally, stable interest rates have maintained confidence among buyers and sellers, contributing to the continuous increase in home prices.

Source: Property Update