Good year in property for 2024

It looks like we’re going to have another good year in property in 2024.

Last year property prices across Australia defied expectations, rebounding in the face of continued rate hikes and closing in on record highs or even hitting new peaks in some areas.

The nation’s median home value made a full recovery last year as the over all housing shortage put upward pressure on prices and rents.

However, signs of softer market conditions emerged late last year, when the pace of price growth and auction clearance rates eased – and that is expected to continue.

In fact, there is still a wide range of economic challenges that our housing markets will have to contend with in this new year, but there is also a combination of growth drivers – what I’d call a "perfect storm” – that should lead to a period of further property price growth in 2024.

While usually the term "a perfect storm” refers to a highly negative scenario, in this case, it’s a positive one, especially if you are a property investor.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

You can now manage your Residential, Commercial or share/student accommodation property

Join now and the cost is less than a cup of coffee a week to manage your rental property.

RealRenta also has a free vision, so why not check it out.

Jason Gwerder
Tuesday, 13 February 2024

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