Do you want to know where Australia and New Zealand’s richest people live? New data, from Henley Global, a firm specialising in residence and citizenship planning, reveals the top 97 wealthiest cities in the world, and Australia and New Zealand make the list 5 times. Here’s a roundup of the top 5 richest cities in…
Apartments have underperformed compared to houses for the past 13 to 14 years in Melbourne and Brisbane and the past 6 years in Sydney. Melbourne has been the weakest market. Over the past 13 years since 2011, the median apartment price in Melbourne has only increased by 2.6% p.a. Interestingly, this matches the inflation rate…
Sydney’s property market turned a corner in 2023, with prices rising consistently over the past 12 months and close to recovering to their pandemic peak. Sydney’s median house price is the highest across the country, at $1.4 million, while the capital city’s median unit price reached $834,578 in January. That’s the cost of living in…
Owning a property on one of Australia’s best beaches is more affordable than you think. Tourism Australia recently announced its best beaches for 2024, and not a single one comes with a multi-million-dollar price tag like you’d expect. After all, for a property near Sydney’s Manly Beach you could expect to pay around $4.2 million, or…
Property buyers in Victoria are paying 6.1 times more for stamp duty than just one generation ago. In Victoria, wages have increased a bit over five times and the median house price has increased just over 12-fold times in that time. According to new PropTrack e61 Institute research, a full-time worker earning an average of…
One of the biggest changes over the time I’ve been investing in property is the abundant availability of property research data. Today there’s a plethora of statistics offered about Australia’s property scene – median house prices by the year, the quarter, the month or day, median advertised rents, rental vacancy rates, auction clearance rates, days…
Sydney’s rental market has plunged into crisis, with ultra-low vacancy rates, high rent prices, strong demand, and a rising population putting the city’s market into a pressure cooker environment. And recent data highlights that the distressing state of Sydney’s rental market has led to a bleak outlook for renters. Here’s a rundown of all the…
This year, many unique factors could influence the property market. Exploring how these elements might impact property prices is intriguing. Of course, the longer-term outlook is important for investors, as it better aligns with their investment horizon. Short-term market expectations likely hold more relevance for potential vendors. Markets hate uncertainty The dominant theme influencing investment…
What are the best and worst things about living in Australia? Immigration to Australia commissioned a survey to find out what Australians think are the five best and worst things that immigrants experience in Australia Not surprisingly soaring property prices and rent were a significant concern, with over 80% of Australians citing this as a…
Perhaps you want to invest in Melbourne’s property market but don’t know where to start. Or maybe you’re wondering what the best Melbourne suburbs to invest in are for 2024. Let me talk you through it. Melbourne’s property market bottomed out in early 2023 and has now moved into the next property cycle phase -…