So What’s in Store [ FOR 2024.? ]

14 Jan

Wishing that the beginning of 2024 has been fantastic, no matter how it's shared. Now, let's direct our attention to the key forecasts for the upcoming year, especially in the realm of the property market.

Looking at the historical data, over the past 30 years, the average cash interest rate has typically hovered between 4% to 5%. Given that history has a knack for repeating itself, it's prudent to anticipate the normalisation of the cash interest rate stabilising within this range, potentially becoming the new norm. This normalisation is likely to influence price expectations in Melbourne and Sydney's real estate markets from January through December this year.

It's widely perceived that our main capital cities, Melbourne and Sydney, may continue to experience negative price trends. In contrast, states like Brisbane and Perth are expected to thrive due to an influx of Aussie residents seeking warmer climates and sustained growth driven by the mining industry, possibly resulting in up to 4% growth in these regions.

Strong population growth and significant infrastructure investments are expected to keep inflation on a tightrope throughout the year. Market dynamics will be highly sensitive to government policies that aim to balance these factors. However, despite the robust demand for housing, construction activity is projected to hit record lows, primarily due to rising material and labor costs, along with funding constraints, which will continue to impact supply.

Considering that the Reserve Bank won't convene until February 2024, it's worth noting that March will be a jam-packed month with Labour Day, Good Friday, Easter weekend, and Easter Monday all crammed together. Realistically, this suggests that January and February might be the optimal time to consider selling in 2024 before further rate hikes and busy weekends take hold.

On the rental front, we anticipate continued rent increases, which could entice investors to return to these capital cities in pursuit of future growth opportunities. The consistent rise in rents may make them a viable alternative for many, nearly matching the monthly costs of mortgage repayments for first-home buyers.

As the New Year approaches, many locals have already begun inquiring about their property's value over the past 12 months. If you're interested in joining the conversation or simply curious about your asset's performance, feel free to CLICK HERE and book a New Year's property P R ICE CHECK.

Wishing you the happiest of New Year ahead from all of us here at C+M Residential.

From all of us, we're excited to keep "Helping You Find Home."

This Week We Cover

So What’s in Store [ FOR 2024.? ]
What's Coming, what's New, what's Sold
Property of the week
Tale of the Sale this week
Auction results & clearance rates
Your suburbs sold results
Get your instant property price online
Highlight of the week

+ Coming + New + Sold

C+M's Coming Soon:

17 Dromana St, Glenroy: Coming Soon..
4/866 Pascoe Vale Rd, Glenroy: Coming Soon..
57 Alpine Gr, Pascoe Vale: Coming Soon..
32 McMahons Rd, Coburg North: Coming Soon..
(To book a VIP viewing, reply with your request..)

C+M's New 2 Market:

4/17 Cartwright St, Oak Park:: $645k - $685k

Click here for more

C+M's Sold Results:

350 Waterloo Road, Glenroy: SOLD @ Private Sale: $790,000

Click here for more

Property of the week

**4/21 Nerissa Grove, OAK PARK**

3 Bed / 2 Bath / 2 Car
$825k - $865k

Learn More

TALE of the SALE this Week

**350 Waterloo Rd, Glenroy**

**SOLD @ Auction**
Number of Inspections: 32
Number of 2nd Inspections: 6
Contracts Held: 4
Number of Offers: 4
SOLD: $790,000

Learn More

Auctions - 13/01/24

*preliminary results based on Sundays data from realestate.com.au

Suburbs SOLD results

Your Property Estimate

Like to know your INSTANT Property Price estimate online. Request yours now by simply CLICKING the IMAGE below or this LINK HERE.

*If you would prefer to BOOK in a more accurate Property Price Check in person with one of our team, you can request this as well.

C+M are Hiring

We're always on the lookout for motivated individuals who want to kickstart their careers in the dynamic world of real estate. If you or someone you know is searching for a fantastic opportunity, don't hesitate to get in touch with us.

To APPLY, simply CLICK HERE or hit the IMAGE..

C+M Residential - "Helping You Find Home."