[Podcast] Unravelling Domain’s Latest Housing Reports: Insights from Dr. Nicola Powell

A tenth of the year is already behind us, and as a person who’s interested in the property market, you’re probably wondering what’s coming over the remainder of the year.

My guest today is Dr. Nicola Powel, Domain's Chief of Research and Economics, and she’ll give you some insights into what’s coming by discussing Domain’s most recent reports and what they say about current developments in the housing and rental markets.

A deep dive into 2024 property market trends

In our chat today, Dr. Nicola Powell and I break down what homeowners, investors, and first-time buyers are dealing with in today's economy.

We cover factors affecting property prices, like what investors are thinking, politics, the amount of available housing, and how working from home is changing the game.

• Domain sees house prices continuing to rise through 2024.
  • House prices in Sydney, Brisbane, Perth, and Adelaide are expected to go up, while Melbourne is lagging a bit.
• Political decisions are making investors unhappy and making homeowners feel uncertain, especially in Melbourne.
  • Rate cuts could be a catalyst for more investors returning to the market.
• The Reserve Bank has left the door open for rates to go up, down, or stay the same.
• Parents and grandparents lending money to younger generations to help them own property is a trend that’s likely to continue.
• Australia needs to have a mix of different types of housing to deal with the lack of enough homes for the growing population.
  • The YIMBYs (Yes in My Backyard) movement and what it’s about.
• The infrastructure shortage and possible solutions
• Rental trends show more vacant properties, but rents are at an all-time high in many places.
• What’s going to happen to first-time homebuyers in 2024 and how to help them get into a home.
  • The role families play in helping first-time homebuyers get a house.
• How working from home is changing where people want to live and how much they can afford

Links and Resources:

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Dr Nicola Powell, Domain’s Chief of Research and Economics

Domain’s Rental report

Domain’s Home Price Report

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Some of our favorite quotes from the show:

“But even so, people are selling up, and not necessarily because they can't keep their repayments. They're sick of being picked on and they don't have the certainty of what's going on.” – Michael Yardney

“If you go back over the last decade, there were many years other than the last three where rents didn't keep pace with inflation or just the cost of owning a property. But I can't see an end to this. There's no end in sight in the short term.” – Michael Yardney

“Of course, anyone can excel when they're feeling their peak. It's showing up consistently during these, I don't know, let's call them in-between days. That sets the foundation for success.” – Michael Yardney

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