Core Logic home value index loses steam! But is it all markets?
By Casey Taylor | Buyers Agent
Core Logic’s national Home value Index rose 0.6% in November. This is the lowest month of growth since February.
Don’t be fooled by the national rise slowing, a number of markets are still growing exceptionally well.
Over the last 10 months housing values have increased 8.3%.
Three cities recorded a reduction in value, they were Melbourne and Hobart both down -0.1% and Darwin down -0.3%.
Three cities recorded impressive growth for the month. Perth rising a whooping 1.90%, Brisbane 1.3% and Adelaide 1.20%.
These growth rates annualized is double digit growth well over the 10% per annum.
Tim Lawless the Research Director said these three cities continue to show low levels of supply.
The low supply levels with strong demand in these areas is why price growth is continuing.
The rate rise in November has certainly affected some markets, however the top performing markets have been extremely resilient.
Borrowing capacity reducing with another rate rise will continue to affect markets with struggling affordability such as Sydney.
Over the last 4 weeks ending November 26th stock levels were above the five year average in Hobart, Sydney, Canberra and Melbourne.
On the flip side Perth, Brisbane and Adelaide continue to have low listing levels.
Perth 40% below their 5 year average and both Brisbane and Adelaide have listing levels 30% below their average.
This is where it’s crucial to not think of Australia as one holistic property market.
Mainstream media will always push Australia as one market, which is not the case at all.
If you’re wanting to invest in property and get it right purchasing nationwide, NOW is the time to take action.
The trend occurring now with growth in certain capital cities will continue.
The more you delay the more you will pay.
The more you pay the more you have to borrow over a 25 or 30 year period.
The decision you make on purchasing or not WILL dramatically change YOUR FUTURE.
Not even just your future but your families future.
What legacy do you want to create for your family?
Will you reap the rewards? Or look back and complain prices are too high and be bitter that you missed out on years of capital growth?
There is massive performance coming in certain markets, it’s up to you to take advantage.
Do you want to get in contact with us?
Reach out below.
https://tayloredpropertywealth.com.au/contact/
Further Reading:
➡️Australian Property Market Predictions 2024
