In this edition
Perth property market not slowing anytime soon
Property prices tipped to hit records - Domain forecasts
Proptrack Home Price Index results - June 2024
Off the property track
Perth property market not slowing anytime soon
Despite some reports suggesting a slowdown, the Perth property market continues to show strong growth, driven by low supply of listings, strong affordability, and low rental vacancy rates. The market is expected to maintain its trajectory until mid-2025, with factors such as the fastest growing population in the country, above-average wage growth, and high commodity prices supporting this trend.
API's report provides some good detail - although informed investors will understand that Corelogic's comment "...the driving force behind the...property markets' momentum is the low supply of listings relative to sales" leaves out the all-important affordability factor which must exist with low supply if price growth is to occur.
Property prices tipped to hit records - Domain forecasts
This API article provides a couple of nice tables showing median house price forecast estimates by Domain, but also details a 'two-speed market'.
PropTrack Home Price Index results - June 2024
Perth growth more than double that of all capitals except Brisbane and Adelaide - both of which it is well ahead of.
Off the property track...
This month, from Visual Capitalist: