[Podcast] Property Shocker: Adelaide and Perth prices closing in on Melbourne

With property values rising for 15 months in a row and talk of interest rate cuts on the horizon, is the Australian property market gearing up for a new boom in property prices this year?

Well, there are clues in the news as to what’s ahead, which I’m going to discuss in this month’s Big Picture podcast with leading financial commentator Pete Wargent.

As always, we will be discussing a raft of macro and micro economic factors that should give you some clues as to what’s ahead for our housing markets.

And we’re going to discuss why now may be a great countercyclical opportunity to get into the Melbourne property market.

Strategies for prospering in Australian property

Today Pete and I share our thoughts on capitalising on current trends, navigating investment opportunities, and understanding the forces that shape the housing economy in Australia.

In our conversation today, we focus on Melbourne’s market and the impact of current economic factors.

  • Median dwelling prices in Brisbane and Canberra are more expensive than in Melbourne Melbourne
  • Adelaide and Perth are almost as costly as Melbourne for the first time in 15 years
  • Over the past two decades, Melbourne has been one of the strongest markets
    • Melbourne has the strongest projected population growth over the next couple of decades
    • Based on fundamentals, Melbourne’s property market is a counter-cyclical investment opportunity
  • The effects of government policies and prolonged lockdowns on Melbourne’s real estate
  • Interest rates are projected to come down in Australia, but not until the final quarter of 2024
  • Last month’s unemployment report showed the unemployment rate dropped to 3.7%
    • However, the rate may be up next year based on population growth and other factors
  • How International oil prices influence inflation and consumer behaviour
  • The challenges of population growth and housing supply in Australia Housing Market
  • The increase in household wealth in Australia
    • It’s been reported that household wealth was up 2.8% in the December quarter
    • Over the last year, household wealth increased by 7.8%, or $1.1 trillion.
  • Undersupply in housing approvals and its consequences for the market
  • Pete’s new book is due out in a month
    • The new book, The Buy Right Approach to Property Investing, is co-authored with Cate Bakos

Hopefully, listening to this chat will help you gain a comprehensive understanding of the opportunities and challenges in the Australian property market.

Links and Resources:

Metropole’s Strategic Property Plan – to help both beginning and experienced investors

Get a bundle of free reports and eBooks – www.PodcastBonus.com.au

Pete Wargent’s blog

Pete Wargent’s new book: The Buy Right Approach to Property Investing: Mastering the skills to invest wisely in property

Some of our favorite quotes from the show:

“We’ve gone back to middle 80s with our research, the earliest Australian Bureau of Statistics data, and overall Melbourne has been the strongest performing capital city, just a little bit more than Sydney, just a little bit more than Brisbane.” – Michael Yardney

“Another way the economy is holding up, of course, is the job vacancies have fallen. The unemployment rates dropped back to the lowest rate since September last year, and that’s despite the fact that there’s lots more people here in Australia.” – Michael Yardney

“So think of your development in terms of goals. Each stage of individual growth comes from having goals, desiring something in life that’s new, better, or different.” – Michael Yardney


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