Welcome to our December Property Update.
Well, what a year it has been in the property market, with all Australian capital cities at record highs, apart from Perth and Darwin which are below their 2014 record highs.
Highlights
- Well, what a year it has been in the property market, with all Australian capital cities at record highs, apart from Perth and Darwin which are below their 2014 record highs.
- We are excited to announce that we are finalists in the Buyers Agent and Buyers Agency of the Year awards. It’s a great honour.
- In November, Sydney dwelling values rose by 0.9%, bringing the quarter increase to 4.3% and the year to a whopping 25.8%.
- The Northern Beaches is up by 36.4%.
- Brisbane was close behind, with the November increase being 2.9%, 7.34% for the quarter and 25.1% for the year.
- We are now seeing a slowdown in price growth, with more properties coming to market and days on market slightly increasing.
- We are still experiencing record numbers of auctions, but the clearance rate has fallen slightly.
- Listing are still 23.6% down compared to the 5 year average.
- Australian rents have increased 9.4% over the year, with Sydney being 8.9% and Brisbane rising 10.5%. The combined regionals rose by 12.5%.
- Strong house price growth has driven gross rental yields to a record low of 3.23%, with Sydney now being 2.4% and Brisbane 3.8%.
- We are seeing a small increase in investor lending.
2022 will be an interesting year for the property market, with the Federal election occurring in the first 6 months so stay tuned. Next month I will provide my 2022 market outlook.
We are working through the Christmas period, and we expect to see some good opportunities for investors, so if you know any investors looking to buy, please put them in touch with me.
Wishing you and your families a happy and safe Christmas and Festive Season.
