Newsletter - Inner Circle August 2024
Inner Circle
Market news.
The latest monthly figures from CoreLogic paint an interesting picture of a national real estate market in transition.
On the one hand, cities like Adelaide, Perth and Brisbane are recording persistently low levels of properties listed for sale which is keeping their performance strong.
Darwin, Melbourne, Canberra and Hobart have been recording above average levels supply levels and their growth numbers have stalled.
Sydney was in the first camp until around March when its supply-demand equation became more balanced. Since then, its growth has halved and it looks like it’s drifting towards zero.
|
Metro |
Annual Growth |
Median dwelling price |
|
Sydney |
5.6% |
$1,174,867 |
|
Melbourne |
−0.2% |
$781,949 |
|
Brisbane |
16.0% |
$873,987 |
|
Adelaide |
15.5% |
$776,597 |
|
Perth |
24.7% |
$773,335 |
|
Hobart |
−1.2% |
$646,863 |
|
Darwin |
2.3% |
$507,097 |
|
Canberra |
1.7% |
$870,910 |
|
Regionals |
6.9% |
$630,565 |
|
National |
7.6% |
$798,207 |
Around Melbourne, we are seeing first home buyers come to the fore driving the sales of inner city units and interestingly, some outer suburbs (e.g. Cranbourne).
In the eastern suburbs, Michael Kimbel tells me there is still strong demand for “good, honest family homes” in areas out to Bayswater and beyond.
For those following Michael’s 2023 picks, REIV annual numbers show he has been right on the money. Some of the best include Wantirna South (16.3%) Ringwood North (13.8%), Hawthorn (12.3%), Croydon South (9.1%), Donvale (7.9%) and Forest Hill (7.6%).
Michael tells me he has been keeping a close eye on Bendigo this winter, where there’s increasing interest from contrarian investors who have spied a bottom in the market.
In the news
You've probably heard this advice before: if you want to beat the market’s growth rate, stick to A-grade properties, as they always perform best. But is this true? And what exactly is an A-grade property?
Find out in Miriam Sandkuhler's latest API Magazine article: bit.ly/4fy5psZ
Why you need a Property Maven to help you buy an investment property.
Adelaide wanted to achieve greater financial security and looked to property as an answer.
She came to Property Mavens and we determined that with her budget, she would be best served by a selective investment in regional Victoria.
We were able to buy this low maintenance, investment grade house in a prime area of Ballarat $25,000 under the vendor’s reserve and bank valuation. We also negotiated $1,200 of repairs at the vendor’s expense.
10/10 Miriam is a fantastic buyers agent who knows the market and industry very well.
Vendor Advocacy - Andrew
Andrew was time-poor professional and needed a stress-free solution to sell his property in Windsor.
Property Mavens helped him with advice on a marketing strategy and determining which local agent was best suited to his property.
After a hard fought campaign, we were able to successfully sell his house at auction in a tough market.
Success story.
“Thanks to her advice, I was able to sell it less than a decade later for a tidy capital gain, even in a softer market. This allowed me to upgrade to a more comfortable place while retaining my primary place of residence as an investment. Miriam planting the seed for me at 33 around planning for retirement was such good financial advice.
“Thank you, Miriam and Property Mavens!”
Our client, Mel Walker is a testament to the transformative impact of Property Mavens’ guidance – and what it could do for you.
We purchased this low-maintenance property for Melissa ten years ago and recently helped sell this for for a tidy capital gain.
As professional property buyers we know the difference between a bad property and a good one, where to buy to generate the strongest returns, how to buy to secure the best result, and what properties are really worth, to ensure our clients don’t pay too much. If you want similar results, click here to book a time with us to discuss your requirements. It’s 100% obligation free.
Go Forth and Prosper !
Miriam Sandkuhler
CEO
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