Menu
In October 2024, Australia’s property markets are influenced by both global economic pressures and local demand. For instance, while most cities saw price growth, Melbourne stands out with a dip in residential property values, contrasting with rises in cities like Sydney and Brisbane.
The national outlook suggests that Melbourne may take time to recover its prices, while other cities might return to more stable growth rates. Lenders are competing harder for customers, signaling some softening in demand.
Retail markets across Australia reflect a mixed performance. Key factors such as inflation, consumer preferences, and post-COVID-19 shifts affect buying patterns. Notably:
Prime retail locations are highly sought after, but smaller, entry-level retail spaces still attract new investors. Secondary retail locations in suburbs also offer potential, though with increased risk.
Australia’s residential property market is also a mixed bag, with home prices in Brisbane and Adelaide experiencing sharp increases. Sydney continues to be a challenging market for first-time buyers, with high median prices. Government schemes are helping some first-time buyers with incentives, but rising interest rates add pressure.
For investors, entry-level properties present chances to diversify, particularly in regional and suburban areas where initial costs are lower. However, careful assessment of tenant stability and market demand is essential, as higher vacancy rates in some commercial spaces can present a risk.
The October 2024 property report shows a complex market shaped by a mix of resilience in prime areas and softer conditions in entry-level and regional markets. Prospective investors and buyers should focus on understanding each region’s unique factors and stay updated on shifts in consumer demand, interest rates, and government incentives.
Selling, investing or developing, we’re here to support you every step of the way. Reach out to discuss your property journey—we look forward to connecting with you soon.
0408 799 578
